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: âMDPS is pleased to be entering this exclusive relationship with RiskBusiness International to develop and distribute RBIâs 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 worldâs largest financial institutions. The size of the markets across the Americas provides a great opportunity for expansion, much of it untappedâ.
Jonathan Davies, Managing Director of RiskBusiness Americas continues, âThis 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 healthcareâ. He added, âMDPS 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 toolsâ.
Kristen Gantt, Partner of Madison-Davis Professional Services, LLC, Managing Director of RBA, who introduced RiskBusiness to MDPS said, âIn 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 âintegrated solutionâ 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 RiskBusinessâs 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.Sâ.
âWe view the establishment of RiskBusiness Americas as an exciting extension of our services capability,â added Mike Finlay, Managing Director of RiskBusiness International (RBI). âAlthough 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 RBAâ.