Julie Brazier

Danbury-based Robert J. Reby & Co. recently promoted former revenue analyst Julie Brazier to the position of associate financial planner.

Brazier, who joined the firm in 2003 and holds a bachelor of science degree from Sacred Heart University in business administration, is currently studying for her certified financial planner certification. She and her son Max live in Danbury.

Robert J. Reby & Co. is one of the leading investment management and financial planning firms in northern Westchester and Fairfield counties, serving both the pre-retiree and retiree communities.

Thomaston Bank Hires Fogarty
Thomaston Savings Bank recently hired Peggy Fogarty as a mortgage originator. Previously, she was the mortgage originator at Wachovia Mortgage Corp.

Fogarty has 18 years of residential lending experience, including Connecticut Housing Finance Authority and Federal Housing Administration mortgage origination. Her education includes an associate’s degree in business management from Naugatuck Community College.

OSI Acquires California Firm
Glastonbury-based Open Solutions Inc., or OSI, a provider of integrated data processing technologies for banks and credit unions throughout the United States and Canada, recently signed an asset purchase agreement under which it has acquired California-based Financial Data Solutions Inc. from Southwest Community Bancorp. FDSI, a wholly owned subsidiary of Southwest Community Bancorp, provides image and remittance item processing, and image statement and rendering services.

Under the terms of the agreement, Open Solutions will acquire FDSI, which in 2004 had revenues of about $6 million and was profitable, for roughly $9 million in cash. FDSI will become part of Open Solutions’ Item Processing Systems business unit reporting into the company’s Strategic Solutions Group. FDSI will continue to be led by industry veteran Fred Mirzaian, FDSI’s current president/chief operating officer, who has more than 15 years of experience serving the item processing needs of the financial services industry. He and his team will be working closely with Open Solutions to oversee integration planning and ongoing operations.

“FDSI is highly recognized in the California financial services marketplace for its ability to provide highly customized image, item processing and remittance solutions along with the highest levels of customer service,” said David Krystowiak, senior vice president and general manager of Open Solutions’ Strategic Solutions Group. “Its service offerings are a natural extension of our own electronic image/item processing product line. Open Solutions is committed to providing the types of innovative industry-focused software solutions that help our clients use technology to service their markets more effectively and efficiently.”

FDSI provides efficient and secure outsourcing solutions in four key business areas – Image Item Processing, Image Remittance Processing, Image Statement Rendering and Document Imaging. FDSI serves about 80 California-based Image Item/Remittance Processing customers and is Check 21 and image exchange enabled.

“Prior to this acquisition, Open Solutions and FDSI had already shared several mutual clients and had already developed the appropriate technology interfaces,” said FDSI General Manager Fred Mirzaian. “Both our companies share a common dedication to providing quality customer service and solutions. FDSI’s client support, product development and the company as a whole will benefit from the additional resources that Open Solutions as a larger, well established, technology- and service-focused company can provide. We look forward to continuing to serve the item processing needs of our clients and the financial services industry.”

“Open Solutions continually strives to enhance and broaden our existing suite of products and services,” said Chairman and Chief Executive Officer of Open Solutions Louis Hernandez Jr. “Our ongoing strategy is to continually augment and round out our offerings through acquisitions of complementary business lines that we believe add value to our company, clients and the industry in general. FDSI is truly such a company and with this product line acquisition, each organization will be able to integrate and leverage each others strengths and experiences to better serve the electronic image, Check 21 and item processing needs of the financial services market.”