Sophis opens new office in Milan and appoints head of Italian operation

2 February 2009

Sophis, a leading provider of cross-asset, front-to-back risk and portfolio management solutions, today announced that it has opened a new office in Milan and appointed Willy Contrada as head of its operations in Italy.

This is Sophis’ first office in Italy and follows the opening of new offices in New York and Dubai plus the appointment of a new senior management team across the world. Sophis already has four clients in Italy, including Banca Aletti, the Investment Bank of Gruppo Banco Popolare.

Willy Contrada joins Sophis from his previous position as Italian country manager at Misys, where he had the specific role of building a new market for Misys and growing its customer base. At Misys he was also responsible for developing a specific business line (regulatory and compliance reporting for South Europe, including Iberia and Greece). Before joining Misys, Willy held various business development and sales roles with organisations such as Reuters Consulting and Brady Financial Software.

Commenting on this announcement Nicolas Roussel, Head of Sales for Continental Europe, Sophis, said: “We are developing a strong client base in Italy and the opening of the Milan office and appointment of a head of operations for Italy demonstrates our commitment to growing our business in the region. Willy’s brings with him 25 years of experience, and his appointment further strengthens our existing global management team in Southern Europe.

“Historically, many Italian buy-side firms have invested in in-house risk and portfolio management systems. Many firms are still relying on these old-generation products, however as the investment community demands more sophisticated products, these same firms are looking to re-invest in more advanced solutions that will cope with new complex instruments. We aim to meet this growing demand with our cross-asset, front-to-back solutions.”

Willy Contrada explains why he decided to join Sophis: “During my time working in the banking sector I’ve always been impressed by organisations that are willing to invest in local resources to meet the needs of clients. Sophis’ strategy to do just that is clear from recent strategic announcements, and I am excited to be joining the company at such an interesting time in its development. I’m looking forward to building our Italian operation as part of our overall global strategy.”

Giacomo Elena, Head of Structured Products at Banca Aletti, said: “We are delighted that Sophis has cemented its presence in Italy with its new office in Milan and the appointment of Willy Contrada as head of its local operation. One of the reasons for choosing to work with Sophis is that it maintains an in-depth knowledge of local business challenges and issues, together with local expertise which can really add value to our organisation. This announcement is proof of Sophis’ commitment to the Italian marketplace.”

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