20th Mar 2008 07:01
Lombard Risk Management PLC20 March 2008 20 March 2008 Lombard Risk Management plc (the "Group" or "Lombard Risk") FORTIS INVESTMENTS SELECTS COLLINE FROM LOMBARD RISK TO AUTOMATE COLLATERAL MANAGEMENT Lombard Risk Management plc, the AIM listed leader in providing regulatory, riskmanagement and valuation software for the financial sector, today announces thatFortis Investments has selected Colline(R) from Lombard Risk to automate itscollateral management. With over 1,600 collateral agreements under management, the collateral desk atFortis Investments sought a solution to simplify the collateralisation processand efficiently expedite the transfer of securities to and from theircounterparties. As a result of adopting Colline(R), Fortis Investments is equipped to managerisk and maximise value for both sides of their OTC Derivatives transactions byoperating more effectively at a time of rapidly changing trading conditions andincreasingly challenging economic conditions. Paul Winter, Global Head of Derivative Operations for Fortis Investments stated,"We are an agile operation that is very customer service driven. We looked fora system that could offer broad product coverage and selected Lombard Risk'sColline(R) as much for its features as for the company's collateral managementexpertise and excellent reputation within the market." John Wisbey, Lombard Risk CEO, commented, "We are pleased to add FortisInvestments to our portfolio of clients and look forward to a long, productiverelationship. We are seeing a marked increase in demand for Colline(R) amongforward-thinking companies such as Fortis, especially as trading balancescontinue to grow. There has never been a greater need to streamline operationalprocesses to more effectively manage collateral to reduce credit risk -particularly in the area of cross product margining." - ends - Enquiries: Lombard Risk Management plc Tel: +44 20 7384 5000 John Wisbey, Chairman and CEO Email:- [email protected] Noble & Company Limited (Nominated Advisors) Tel: +44 20 7763 2200 Matthew Hall, Director Bishopsgate Communications Ltd (Financial PR) Tel: +44 20 7562 3350 Dominic Barretto / Jenni Herbert Email:- [email protected] About Lombard Risk For over 19 years, Lombard Risk Management plc (LSE: LRM.L) has been deliveringproven solutions that reduce the risk inherent in trading operations, defendagainst anti-money laundering and financial crime, and improve financialcompliance and regulatory reporting to safeguard the financial industry andlarge corporations around the globe. Lombard Risk's clients include over 40% ofthe 340 banks operating in the UK, over 20 of the world's top 50 banks, as wellas industry leading investment firms, asset managers, hedge funds, fundadministrators, and large corporations. COLLINE(R) was voted as one of thecoveted "top 5" automated collateral management solutions in RISK Magazine'sAnnual Software Survey for two straight years. Lombard Risk is headquartered inLondon and operates via subsidiaries in New York and Shanghai and regionaloffices in Hong Kong, Singapore and South Africa. www.lombardrisk.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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