Palm Beach Gardens, FL, November 28, 2006 â€“ Cross Match Technologies, Inc., a leading global provider of high-quality interoperable biometric identity applications and solutions, is pleased to announce that long-time board member, Walter F. Raquet, has been elected non-executive chairman of the board. Currently the CEO of WR Capital Management, Mr. Raquet has played an active role on Cross Match's board of directors since March 1999 and succeeds Theodore M. Johnson, who served as chairman since September 1997.
"Walter has made significant contributions to the company over the last seven years, and we are all very pleased to announce his election as chairman," said James W. Ziglar, president and chief executive officer of Cross Match Technologies, Inc. "He has the thought leadership and executive management experience needed to further drive the development and worldwide adoption of Cross Match's biometric identity solutions. I look forward to working with him to build on the momentum in place and help grow our business."
Mr. Raquet founded the Knight Capital Group Inc. (Nasdaq: NITE) in 1995 and helped the company establish itself as the largest market maker in both Nasdaq securities and the over-the-counter market for New York Stock Exchange and American Stock Exchange securities. Prior to forming Knight Capital Group, he was a senior vice president with Spear, Leeds & Kellogg/Troster Singer where he headed its technology and marketing initiatives. In addition, he performed similar functions as a partner at Herzog Heine & Geduld. Mr. Raquet began his career at Price Waterhouse, and later worked at Paine Webber and Weeden & Company. He received a Bachelor of Science degree in accounting from New York University.
"I am delighted to take on this new role with Cross Match and share the team's commitment to success," said Raquet. "I'm especially excited about our advanced multi-modal biometric technologies and the potential it holds to enhance national security. With the combined efforts of Jim Ziglar, the board and the executive management team, we will continue to build a compelling value proposition for our customers and take Cross Match to the next level."