RiskBusiness and MDPS announce joint venture in the Americas

New York - 24 June 2010

RiskBusiness International Limited (RBI), the leading international operational and enterprise risk advisory firm, and Madison Davis Professional Services (MDPS), a New York based governance, risk management and compliance advisory firm also delivering business strategy and process and technology improvement advisory services, today announced the establishment of a new joint venture, RiskBusiness Americas LLC (RBA), to address the markets in the Americas.

RBA will provide risk advisory services and distribute related data and content through its tools and products that utilize the most advanced technology delivery systems. Headquartered in New York City, RBA is currently focused in the financial services and oil and gas/ global energy markets. However, it also provides its services and products to other highly regulated industries, such as healthcare, telecommunications and transportation, etc. Peter Fiorillo, CEO of MDPS, will become the CEO of RBA.

Commenting on the joint venture, Peter Fiorillo said: “MDPS is pleased to be entering this exclusive relationship with RiskBusiness International to develop and distribute RBI’s suite of risk management content, data, tools and products throughout the Americas. RBI developed these offerings over the last seven years with over 100 of the world’s largest financial institutions. The size of the markets across the Americas provides a great opportunity for expansion, much of it untapped”.

Jonathan Davies, Managing Director of RiskBusiness Americas continues, “This joint venture enables us to pursue more aggressively our distribution partner model for our risk content offerings in the Americas, both within the financial services verticals but also to develop equivalent products for energy and healthcare”. He added, “MDPS also brings relationship opportunities into service providers in credit risk analysis and other risk related disciplines where there is a natural fit for operational risk and ERM content, data and tools”.

Kristen Gantt, Partner of Madison-Davis Professional Services, LLC, Managing Director of RBA, who introduced RiskBusiness to MDPS said, “In the last six months, we have seen significant interest specifically among financial services firms and oil, gas, global energy and utility companies in implementing a more “integrated solution” that combines standard risk language with enhanced tools to help them better manage their risks and related business processes, as well as build the basis for benchmarking with peer firms. Expanding our direct offerings through RBA fits within the holistic approach to the business consulting relationship we have built over the years with our clients. By adding the risk performance and measurement data, key risk indicators and loss data, provided through RiskBusiness’s taxonomy libraries, and using this to monitor and track this information historically and prospectively, Madison-Davis significantly extends its offerings to the 200 financial services and highly regulated companies it advises in the U.S”.

“We view the establishment of RiskBusiness Americas as an exciting extension of our services capability,” added Mike Finlay, Managing Director of RiskBusiness International (RBI). “Although the United States in particular was hard hit by the recent financial crisis, there remains an enormous market for risk management services, both in our traditional financial services sector and in other sectors where MDPS has capability. Together, we are introducing many new ideas, concepts and capabilities to the marketplace, covering firms of all types and sizes. At the same time, RBI will continue to expand outside of the Americas and will look to capitalize on global relationships established within RBA”.

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