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Risk Management

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Risk Newsflashes

HSH Nordbank picks Sophis for derivatives; The Philippine National Bank licenses Optics; Arthur Phillips named to head PRMIA's South Africa chapter.

HSH Nordbank chose Risque from Sophis to support its derivatives business. But the eighth largest German Bank, formed in June 2003 through the merger of the Landesbanken in Kiel and Hamburg, will first use the system as its equity divisionis major platform for sales, trading and risk-management and back-office operations. After the initial first phase, HSH Nordbank will consider using the system for other major asset classes. iWe were looking for a solution that could help us support a very sophisticated derivatives business,i states in the release Michael Daiss, a principal at HSHis Nordbankis equity-derivatives trading. Risque was selected after a comprehensive evaluation process that took more than six months. In a prepared statement Tino Mehlmann, the project manager from ORG/IT at HSH Nordbank, cites icutting edge complete and scalable architecture and their straight-through-processing capabilities,i as reasons for opting for Sophis.

The Philippine National Bank (PNB) licensed Opics o Misys Wholesale Banking Systemsi treasury, derivatives and capital markets system. The bank plans to use the Opic package to increase efficiency across the front, middle and back-office. Misys says the product will provide enhanced transaction flows and improved risk-management through volume and stop-loss limits and better inventory management of securities. The bank will use the system to support future plans for building a retail fixed-income business. PNB is the sixteenth bank to license Optics in the Philippines.

The Professional Risk Managersi International Association (PRMIA) named Arthur Phillips as the first regional director for PRMIA South Africa, the 45th global chapter. Phillips, who is director of RiskWorX, a South-African company specializing in financial risk-management, brings 15 years of experience in Treasury and market-risk management. Over this period, he has worked extensively with South African banks and investment firms in the areas of market, credit and operational risk, as well as in the pricing and valuation of complex derivative-products. Prior to RiskWorkX, Phillips worked with Investec Bank and consulted to Algorithmics in Toronto.

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