Rothschild Private Banking & Trust chooses Avaloq Banking System

Zurich, Switzerland - 8 March 2011

The Avaloq Group, the Swiss market leader for integrated and comprehensive banking software solutions, today announces its third UK customer win - Rothschild Private Banking & Trust. The global private banking and trust business will implement the Avaloq Banking System across its London and Zurich offices. Rothschild Private Banking & Trust is Avaloq’s third UK private banking customer: Adam & Company went live with the Avaloq Banking System in early January and Coutts is currently implementing the system.

Rothschild Private Banking & Trust wanted to invest in a solution capable of supporting the bank’s growth ambitions. The bank will implement all modules of the Avaloq Banking System and more than 250 employees at Rothschild will be working with the system across the bank’s London and Zurich branches.

Veit de Maddalena, CEO of Rothschild Private Banking & Trust, is looking forward to working with Avaloq: “We chose their System as it comes with a preconfigured ‘Model Bank’ and covers all the functionalities needed by a bank – front to back. We are positive that the Avaloq Banking System will help us substantially reduce our operating risk and increase our ability to support new markets.”

Jose Manuel Carro, Managing Director of Avaloq UK, comments, "The signing of our third private banking customer in the UK demonstrates the strength of our solution in the market. As banks in the UK look to manage the many challenges in today’s market, we believe the Avaloq Banking System can help to support financial institutions in better managing their risk, improving efficiency and enabling greater transparency.”

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