InteDelta, a new consulting firm, started trading at the beginning of September. InteDelta will specialise in "Risk and quantitative consulting with an implementation capability" which encompasses credit and market risk methodology and policies, risk system implementations and derivative pricing.
InteDelta will sell its services directly to end users, predominantly investment banks and hedge funds, and will also partner with other consultancy firms who need niche skills, and financial software companies who need assistance in implementing their products at their clients.
InteDelta was founded by Michael Bryant and Nick Newport who worked together in the London risk management area of ING, the Dutch banking and insurance group. Michael Bryant was a Managing Director and head of Credit Risk Measurement and focussed on the quantitative aspects of credit risk, risk methodology and policy, and the strategic oversight of systems implementations. He also played a major role in developing INGâs hedge fund business.
Nick Newport was the project manager for the global implementation of the SunGard Credient risk system. Prior to joining ING he was with Standard Chartered in London and Singapore in a market risk role which included the implementation of Algorithmics RiskWatch.
InteDelta has entered into an associate relationship with Hibrium, a derivatives software and consulting company dedicated to the development of tools for the pricing and risk management of interest rates, credit derivatives and hybrid derivatives. Hibrium was founded in May 2004 by Henrik Rasmussen, formerly a trading floor quantitative analyst at JP Morgan and Salomon/Citigroup. InteDelta and Hibrium will work jointly on assignments which have a high quantitative content.