Century Payments appointed new Chief Financial Officer

Century Payments, Inc., a payment processing solutions provider, announced today that Christian Fadel, former Sage Payment Solutions Chief Financial Officer, has joined Century as Chief Financial Officer. Mr. Fadel was introduced to Century by Austin Ventures, a $3.9 billion private equity and venture capital firm. AV announced the formation of Century in partnership with AV CEO-in-Residence Robert Wechsler in January 2009. Mr. Fadel brings a great deal of finance experience and industry relationships to Century and he will be responsible for all of the company's accounting and financial matters. Mr. Fadel will also be closely involved with Century's acquisition activities. Mr. Fadel previously served as Chief Financial Officer of Sage Payment Solutions, an electronic payment-processing and merchant services company based in North America. Prior to joining Sage, Mr. Fadel was Senior Vice President, Finance of Verus Financial Management, Inc., a payment processing business that closed six acquisitions and was ultimately sold to Sage Software for $325 million in 2006. Prior to joining Verus, Mr. Fadel was Chief Financial Officer of Network 1 Financial Corporation, a provider of end-to-end payment solutions for e-commerce, retail, and wholesale businesses. Prior to joining Network 1, Mr. Fadel was the Chief Financial Officer of Genoyer Group, Inc., the U.S. division of an international oil and gas trading company, which was sold to The Carlyle Group in 1999. Mr. Fadel also served as a Controller for United Media Corporation, a printing and graphics company that provides outsourced services to large corporations, such as MCI and Sprint. Robert Wechsler, CEO of Century Payments, said: "We are delighted to have Christian join the Century team. I believe the experience he gained as the CFO of one of the more successful ISO roll-ups of the past 10 years will have a large impact on the work we are doing. Century's position as a high-growth and innovative payments provider is allowing us to attract individuals of Christian's caliber across the company."