stake in Riva Financial Systems, creators of the Riva Transfer Agent software solution suite.
âWe have long been searching for a transfer agency software solution that can support Franklin Templetonâs global reach and complexity across multiple jurisdictions,â said Ghassan Hakim, Sr. Vice President of Franklin Templeton Investor Services, who has assumed the role of CEO of Riva Financial Systems. âWe believe the Riva TA system, already functionally rich in support of European cross-border funds, has the potential of becoming a true and unique global platform.â
The transaction supports Franklin Templetonâs long-term goal of having flexible, portable and scalable solutions across the many regions of the globe where its funds are sold and supported, while reducing its overall development costs. This partnership will also ensure rapid time-to-market solutions in new and
existing emerging and developing markets for Franklin Templeton. âWith advice from Barrington Partners, we have gained a significant partner in industry leader Franklin Templeton, which is uniquely positioned to propel our current offering into a truly global solution,â said David Ball, Rivaâs Vice President of Sales and Marketing. âWe welcome the knowledge and experience that Ghassan Hakim brings as our new CEO. The scope of Franklin Templetonâs global operations will
add further depth and flexibility to the Riva TA solution suite, and we look forward to building on Riva TAâs solid European base. In addition, Rivaâs continued expansion and growth into a wide range of new jurisdictions with a single solution provides our customers with greater opportunities for cost effective
Peter Marshall, CEO of Swissrisk remarked, "Franklin Templeton's purchase of our share in Riva underscores Swissrisk's confidence in the Riva product and team. Building on the past successes of Riva TA, with our financial messaging product X-Gen, Swissrisk will continue to be involved with Riva, with the further benefit of a working relationship with the Franklin Templeton organisation. Clearly this is a winwin- win transaction for everyone."