18th July 2002 - London - COR Financial Solutions has today announced that following its recent acquisition of BITA Plus Consultants (BPC), the global provider of risk management and portfolio optimisation software, BPC will now operate as COR Risk Solutions.
COR Risk Solutions (COR-RS) joins COR Investment Solutions and COR Internet Banking Solutions under the COR Financial Solutions umbrella to provide advanced portfolio analytics and optimisation software for investment, research and portfolio trading teams. COR Financial Solutions' existing product portfolio includes the CO-STARS suite of products for the retail asset management industry.
The £2.3 million purchase of BPC was a strategic move by COR Financial Solutions to extend its existing range of software products and services to address the increasing importance of and demand for sophisticated portfolio risk analysis in asset management.
Simon Tizard, Managing Director of COR-RS comments, "Although the name has changed, COR Risk Solutions will operate as a discrete division within the COR family. Our product development, research and support functions, which have served BPC and our clients so well in the past, will continue as before. Our product names (BITA Research and BITA Curve) will also remain unchanged. We now look forward to successfully expanding the COR brand into the risk management arena."
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