Quartet FS doubles growth as company continues international expansion
London, New York, Paris, and Singapore – 28 February 2011
Quartet FS, a specialist provider of business intelligence and analytics technology, has doubled its licence revenue for the year ending December 2010 for the second year in a row. The company has experienced strong growth through global sales of its ActivePivot solution, a real-time, in-memory and object orientated OLAP aggregation engine, which meets many of the business and technical challenges facing today’s financial sector.
Revenue figures for 2010 were buoyed by both new client wins across the company’s three core regions of Europe, Asia and the United States, as well as by existing clients expanding their use of ActivePivot. Crédit Agricole, Quartet FS’ longest standing client, has recently extended its implementation of ActivePivot to run across five different parts of the bank’s trading business.
The company’s international expansion has continued with Quartet FS’ first client win in Australia following the opening of the Singapore office last summer. David Cassonnet, who is leading Quartet FS’ operations in Asia-Pac, has recently doubled his number of staff to service the growing demand from financial institutions in the region. In the United States, Quartet FS is working with its first asset management customer which represents a new growth area for the company’s offering.
Commenting on the company’s success, Georges Bory, co-founder of Quartet FS, said, “ActivePivot is now used by investment banks around the world to solve many different business issues from real-time position keeping and risk aggregation to explanatory P&L, Value at Risk, stress analysis, low latency arbitrage, counterparty credit risk, CVA and real-time accounting. With such a unique solution that meets many of today’s pressing business needs by providing operational, real-time business intelligence, we are confident that we will build further on this growth in 2011 and beyond. We anticipate a proportion of this growth will come from the asset management sector as well as industries outside of finance where the need for real-time analytics is paramount.”