Andre Lee makes way for Arnold at 01 Inc.

01 Inc., developer of DealComposer, has appointed Kevin Arnold as CEO of the online capital raising project, replacing Andre Lee who will remain with 01 overseeing new technology development.

Arnold, who co-founded the company along with Lee, has been leading the promotion of the DealComposer system to the worldwide financial community from his London office, and will now take overall responsibility for the project. Lee will continue working with the development team in Seoul on new projects that he says won't necessarily be related to the financial industry.

"We've got  a great technology team in place," he says. "We've had other projects in mind for a while now. Now that DealComposer is finished we can pursue them."

Given that Lee's infamy in Asia has guaranteed a certain amount of visibility for DealComposer, will this move effect the business that the online capital rasing venture has lined up for its launch in a few month's time? Not at all, says Lee.

"I think DealComposer can speak for itself. The financial institutions know about it and we've had good feedback. The business model, the organisation, the people, the technology can speak for itself."