Vermeg acquires Lombard Risk 26 February 2018London Reporter: Becky Butcher
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Vermeg has acquired Lombard Risk to create a “leading force in financial services solutions”.
Lombard Risk will expand Vermeg Group’s geographical footprint and product lines in growing areas, including collateral management and regulatory risk solutions.
The acquisition also adds compliance products for banks and buy-side firms to its customer base of insurers, institutional investors, asset managers, depositories and central banks.
Vermeg currently has offices in France, Belgium, Luxembourg, Spain, the Netherlands and Tunisia.
Lombard Risk’s presence in the UK, North America and the Asia Pacific provides Vermeg with a platform for further expansion and growth.
Badreddine Ouali, chairman and founder of Vermeg, said: “Through our acquisition of Lombard Risk, we will reach a turnover of €100 million. Moving forward we will further develop our offering so that clients can benefit from a team, expertise and proposition that are more established than the newer financial technology, and much smarter and more responsive than the incumbent larger software houses.”
Alastair Brown, CEO of Lombard Risk, added: “We believe that the combination of Lombard Risk and Vermeg will create a powerful, global financial services software champion, and we strongly believe that the new group will be well positioned to generate and seize exciting opportunities in the future. Our dedicated focus on the collateral management and regulatory reporting industries will continue, whilst opening access across the group to the markets in the UK, North America and the Asia Pacific.”
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