Suncorp Metway, Australiaâs sixth largest bank, has fixed interest and cash funds under management in excess of $5 billion and is consistently ranked in the top quartile of Australian fund managers.
âTo have Suncorp Metway as our first client gets us off to an excellent startâ, said Dr Andrew Colin (39), Flametree Softwareâs Managing Director. âThat Suncorp chose Sienna in the face of competition from the US is a big vote of confidence in our system.â
Suncorp Metway will be using Sienna for all fixed interest and cash management functions, including risk measurement, deal capture, performance measurement and attribution, pre-trade compliance, portfolio optimization and portfolio stress testing. Flametree has been working closely with Suncorp for the last four months to ensure that the system meets all their requirements.
âThere are no other systems out there that can perform fixed interest attribution to this level of detail on such a wide range of instruments,â said Brett Ryder, Head of Fixed Interest at Suncorp. âSiennaâs capabilities in this area made it very appealing to us. We also like Siennaâs ability to slice and dice and drilldown into portfolios, which gives us quick insight into positioning and return. We expect Sienna will help us to retain our lead over competitors for the next few yearsâ.
Flametree Software is based on Queenslandâs Sunshine Coast, an area known more for agriculture and tourism than for high-technology industries. However, Dr Colin believes this is about to change, due to the combination of the areaâs superb natural amenities and the Internet. âI decided to base the company here rather than Sydney for family reasons, but itâs no disadvantage being up here when most of our day-to-day interaction with customers is by email and phone.â
Andrew Colin has extensive experience in banking and funds management and has held positions with Zurich Funds Management, the Commonwealth Bank, and Citibank in both Sydney and in London. He has a PhD in Mathematics from St Andrews University, Scotland.
Flametree Software began developing Sienna in March 2000. âFund managers like Sienna. This is because we have listened carefully to what dealers and managers want, as well as studying day-to-day workflow in depth. We have combined this insight with some of the most powerful computing techniques currently available. I believe this has produced a system that genuinely outstrips the competition.â
Contact: Dr Colin
Phone: 07 5448 1374