The Catastrophe Risk Exchange Inc. in Princeton, N.J., announced yesterday that CATEX Chief Technology Officer Kunal R. Patel has been appointed corporate executive vice president and will continue as CTO.

CATEX Chief Executive Officer Frank Fortunato said Mr. Patel was instrumental in the company's success.

“As we move into this next critical stage of our growth–that of integrating the functions of the Web-based Pivot Point Transaction System onto the Web-based CATEX Global Exchange–he will need to be able to call upon all the resources of our company,” said Mr. Fortunato.

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