Lombard Risk Management plc, a leading provider of risk systems and independent valuation services, is pleased to announce the selection of its Firmament Collateral system by Banca IMI.
Banca IMI is one of the largest banks in Italy with a mature and experienced collateral management programme. An investment banking subsidiary of the Sanpaolo IMI Group, one of the principal Italian financial groups, it has a strong presence in equity and bond placement, specialised financial operations and securities trading.
Firmament Collateral, Lombard Risk's software platform for collateral trading and risk management, will be further enhanced in cooperation with Banca IMI. The enriching and deepening of Firmament Collateral's functionality will ensure that the system more than meets the requirements of Banca IMI.
"We are privileged to be working with one of Europe's foremost banks in the collateral area" said John Wisbey, Chairman, CEO and founder of Lombard Risk, "We particularly value the expert knowledge and vision of the team at Banca IMI, which should ensure that the enhancements to our Firmament Collateral system can meet the requirements of even the most demanding institutions."
"Lombard Risk won through a rigorous selection process thanks to a strong collateral product and their high level of business knowledge in this area", said Simon Bergman, Head of Collateral of Banca IMI. "Their openness and approach to the partnership throughout the discussion, specification and development phases have exceeded our expectations".
The new Firmament Collateral functionality is being made available through the first and second quarter of 2005.