European banking and insurance software vendor Vermeg has completed its acquisition of Lombard Risk, a collateral management and regulatory reporting solutions vendor, described as “a key milestone” in Vermeg’s bid to become a major player in the financial services solutions realm, officials say. The acquisition will add collateral management operations, regulatory reporting and compliance products… Read More >>
GlobalCollateral Pact with Lombard Risk Targets Collateral Management Woes
DTCC-Euroclear Global Collateral (GlobalCollateral) and Lombard Risk, a collateral management and regulatory reporting solutions vendor are weaving together a strategic alliance intended to improve the margining support and streamline the many steps of collateral management operations. The vendors are saying that a multi-phased alliance would start with “an agreement to link GlobalCollateral’s Margin Transit Utility… Read More >>
Symbiont Attracts Industry Luminaries to Board
Daniel Gallagher and Todd Ruppert Join Symbiont’s Board of Directors Symbiont, a smart-contract and distributed ledger technology (DLT) start-up based in New York City, has named former SEC Commissioner Daniel Gallagher and Todd Ruppert from T. Rowe Price to its board of directors. Gallagher served as commissioner of the SEC for four years before being… Read More >>
New York Proposes Mandatory Cyber-Security for Firms
NY DFS Proposes Regulation to Require Cyber-Security Programs The state of New York via the State Department of Financial Services (DFS) wants to require banks, insurance companies, and financial services institutions to “establish and maintain” a cyber-security program via a new regulation proposed by the DFS and Governor Andrew M. Cuomo. The impetus for the… Read More >>
Bill Miller Parts Company with Legg Mason
Miller Acquires LMM from Legg Mason Noted fund manager Bill Miller is leaving asset manager Legg Mason via an agreement in which Miller will acquire all of Legg Mason’s interests in LMM LLC (LMM), according to Legg Mason officials. Miller’s successful stockpicking run during the 1990’s helped raise the profile of Legg Mason. The agreement… Read More >>
Lombard Risk Hires from RBS to Fill CEO Post
Lombard Risk Management Names New CEO Lombard Risk Management plc, a provider of integrated collateral management and regulatory reporting solutions for the financial services industry, reports that Alastair Brown has joined its board as CEO. Brown will report to Philip Crawford, who will continue to serve as executive chairman for the remainder of the financial… Read More >>
Lombard Risk Names Regional Sales Director for the Americas
Lombard Risk Management, a provider of regulatory reporting, compliance and collateral management solutions, has named John Groetch regional sales director for the Americas. Groetch, who will be based in Manhattan, will be responsible for managing the company’s strategic drive in the region, “executing on the company’s ambitious growth plans,” the company says in a statement…. Read More >>
IBOR Support Coming for CRD’s IMS as CME to Launch in Europe
Charles River Embraces IBOR; Gains Client in Luxembourg Charles River Development (CRD) is integrating support for investment book of record (IBOR) in version 9.2 of the its Investment Management Solution (IMS) flagship order management system, following completion of beta testing with global client partners, officials say. The company describes its IBOR support as a… Read More >>
Chris Pickles Leaves BT as Custom House Execs to Stay Post-Merger
Chris Pickles Leaves BT to Start Consultancy Industry veteran Chris Pickles has left BT to work as an independent consultant, based in the U.K. “We can confirm that Chris Pickles has left his role as head of industry initiative, global banking and financial markets at BT,” says a BT spokesman. “We would like to thank… Read More >>
SEC’s Schapiro to Exit as RTS Realtime’s CEO Moves from Chicago to Singapore
SEC Commissioner Walter to Replace Chairman Mary Schapiro After overseeing a major chapter in the regulatory agency’s history, SEC Chairman Mary L. Schapiro will step down from her post on Dec. 14 and will be replaced by Elisse B. Walter, an SEC commissioner. President Obama approved Walter’s promotion, sidestepping Congressional approval. As it moves into… Read More >>
