Regulatory compliance doesn’t usually make for scintillating dinner party conversation, but that’s how Adam Sodowick, founder and CEO of gamification training and data analytics vendor True Office, got his big break. He’d just started his company about a year and a half ago and was trying to figure out his next move when Sodowick bumped… Read More >>
Q&A: ‘The Right Way to Run SunGard’
Steve Silberstein, chief technology officer (CTO) for SunGard, has been promoting and hiring other CTOs to oversee key operating units of SunGard Financial Services as part of a new, synergistic management layer intended to move the company from a federation of acquired companies to a more cohesive operating unit. Almost two-thirds of the new CTOs… Read More >>
Pierpont to Grow Securities Finance Ops
Fixed-income brokerage Pierpont Securities, which last week announced a merger with broker-dealer Amherst Securities Group, will soon be using SunGard’s Loanet at a time when Pierpont is trying to grow its expanding securities finance operations while also reducing the total cost of ownership (TCO) in the back and middle offices, say officials at the firm…. Read More >>
Sandell Picks SunGard’s Hedge360
SunGard reports that Sandell Asset Management, a U.S.-based alternative asset management firm, has picked its Hedge360 as a portfolio management platform. Hedge360 will enable Sandell to increase operational efficiency through automating processes, SunGard says, noting that it will “also offer a hosted, enterprise-wide solution that fully integrates with its trading, risk and operations.” The Hedge360… Read More >>
AltExchange Adds Four Members
The AltExchange Alliance, which aims to implement a data standard for the private equity industry, reports the addition of four new members. They are the Institutional Limited Partners Association (ILPA), technology and service provider SunGard, private equity investor AlpInvest and PricewaterhouseCoopers, the multinational professional services firm that is one of the Big Four auditors. In… Read More >>
SunGard XSP CTO Takes on Group Role
SunGard XSP’s chief technology officer (CTO) Daniel Retzer has been promoted to the post of CTO for North American Securities, an internal grouping of key SunGard Financial Services products, confirm SunGard officials. Retzer, who has been with the corporate actions processing vendor XSP for more than a decade, will retain his post there, he says…. Read More >>
Scotiabank Deploys Fenergo Onboarding as Brazilian Asset Manager to Use Eze OMS
Scotiabank Deploys Fenergo Onboarding Solution Toronto-based Scotiabank is using Fenergo’s Regulatory Onboarding solution for its global banking and markets division, officials say. The deployment is intended to help the bank automate, streamline and standardize regulatory onboarding processes, data and documentation across six business segments. The implementation also supports Scotiabank’s centralized know your customer and anti-money-laundering… Read More >>
ISDA Defines a New Credit Event as Gaia and Numerix Take on EMIR
New Credit Event Part of ISDA’s 2014 Derivative Definitions The 2014 ISDA Credit Derivatives Definitions to come in September will introduce several new terms and a new credit event that would be triggered by a government bail-in of a financial reference entity, according to the International Swaps and Derivatives Association. The version to come in… Read More >>
Hamilton Re Taps Sandy Weill to be Chairman as SunGard Names Financial Engineer of the Year
Sandy Weill Is Board Chairman at Former S.A.C. Re Citigroup veteran Sanford I. “Sandy” Weill will serve as chairman of the board of directors for Hamilton Re, a Bermuda-based Class 4 property and casualty reinsurer that Hamilton Insurance Group, Ltd., acquired from SAC Capital last year, officials say. The reinsurer known as S.A.C…. Read More >>
TowerGroup finds firms are a mix of contradictions as Electra and Eagle forge an alliance
TowerGroup: User Firms a Mix of Recs Contradictions Financial services firms are a mix of contradictions when it comes to reconciliation, according to a new survey conducted by CEB TowerGroup Research. Executives responding to the survey say they have hope that there could be enterprise-wide reconciliation and exception management solutions. But they also admit that… Read More >>
