Contacts: Contacts: Eric Bernstein, Sophis
T: +1 212 625 8900
Press contacts:
USA
Ray Graber
T: 781-221-0018
Europe
Alexandra Bell/Jessica Stacey
T: +44 (0)20 7282 2829/1038
E: alexandra.bell@citigatedr.co.uk/jessica.stacey@citigatedr.co.uk
Sophis Opens New North America Headquarters in Midtown Manhattan
Park Avenue to be base of operations for building US Market Share
New York – March 3, 2008 – Sophis, a leader in cross-asset, front-to-back portfolio and risk management technologies, today announced that it has expanded its North America office by relocating from 594 Broadway to 99 Park Avenue in midtown Manhattan. This move is the Company’s latest step in implementing its strategy of increasing its share of the North American segment in the risk technology market, estimated at $5.9 billion for 2008 by Chartis Research.
Pascal Xatart, who was named CEO of Sophis in July 2007 when the global private equity firm Advent International purchased a majority stake in the Company, declared at the time that Sophis would be accelerating its international expansion, particularly in the United States. Mr. Xatart also stated that Sophis planned to continue investing in the research and development that have made its solutions especially responsive to the requirements of both large institutions and boutique firms.
“North America is a very dynamic and fast-moving market for us,” remarked Eric Bernstein, COO North America, Sophis, Inc. “We have seen a great deal of interest along the entire spectrum of our products’ capabilities, but people have been especially interested in the best ways to address the risk, uncertainty, and volatility that we are experiencing today”.
Founded in 1985, Sophis has earned many investment industry accolades and now serves more than 100 well known clients worldwide. Awards won by Sophis in recent years include Best Straight-Through-Processing Technology for 2005 and Best Front-Office Innovation of the Year for 2006 from The Banker; Technology Company of the Year for 2006 from Structured Products; and 2007 Technology Vendor of the Year from Asia Risk.
Sophis was voted number one vendor in equities analytics in Risk Magazine’s Annual Technology Rankings for 2007, and was ranked eighth in the world by Chartis Research in the October 2007 RiskTech 100. Sophis’ global clients include Royal Bank of Canada; HSBC Group; ING Bank; Rabobank; Fortis; Barclay’s; and Nomura International.
Investment banks and financial institutions employ Sophis’ RISQUE solution for managing trading activities on the sell-side, while asset managers and hedge funds rely on its VALUE solution for its front, risk, middle/back office and data management capabilities on the buy side.
About Sophis (www.sophis.net)
Founded in 1985, Sophis is a leading provider of cross-asset, front-to-back portfolio and risk management technology for capital markets. The Company has a global presence with nine offices around the world and serves more than 100 market-leading institutions, including investment banks, asset managers and hedge funds with its two solutions, RISQUE, dedicated to the sell-side, and VALUE, dedicated to the buy-side. In July 2007, the private equity fund Advent International acquired a majority stake in Sophis.