GLOBAL in Saudi goes live with SAGE’s Prospero. Prospero implemented for both asset management and wealth management

07 September 2010

SAGE, the publisher of banking solutions specialized in the development of wealth and asset management systems, is pleased to announce that Global Investment House (Global) in Saudi Arabia started the implementation of Prospero as its front- to back-office platform for its Investment Management arena. Global is a leading asset management and investment banking company in the GCC and MENA with offices across the Middle East. Global has successfully implemented some Prospero modules in its operations in Kuwait and decided this year to extend the use of Prospero in its office in Riyadh, Saudi Arabia. Global in Saudi manages and administers local funds and portfolios for High Net Worth clients in addition to offering its clients brokerage services in the Saudi Equity market.

Global’s Chief Information Officer, Mr. Hakam Abu-Zarour, stated: “Prospero is a good fit for Global as it offers one Front- to Back- Office platform. This reduces our maintenance costs and operational risk while enhancing our productivity and efficiency to better service our clients.”

This is Prospero’s first implementation in Saudi and it affirms SAGE’s presence and commitment in the MENA region. Mr. Tarek Hamdan, SAGE’s Chief Marketing Officer, adds: “There is a significant demand in Saudi for a sophisticated tool on asset management and Prospero clearly answers to this need – even more than what is required.”

Mr. Patrick Rotzetter, Head of SAGE’s Business Development, adds, this success is an important milestone for SAGE. The Saudi market has seen a small slowdown in 2009 and is picking up this year. With this excellent reference, we will participate fully to the growth of the Saudi market. Global is a leading investment firm in the region, and we are delighted to extend the rollout of Prospero to other international locations of Global Investment House.

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