LONDON (Alliance News) - Lombard Risk Management PLC Thursday said it has formed a strategic alliance with Broadridge Financial Solutions, Inc to address changing industry needs in the collateral management sector.
In a statement, Lombard said several factors, such as global regulatory changes, tighter liquidity, a move towards greater transparency and the increasing cost of collateral, have in recent years prompted firms to rethink their approach to collateral management.
The strategic partnership will combine Lombard's technology with Broadridge's applications and infrastructure.
Lombard Founder and Chief Executive John Wisbey noted his delight at being chosen by Broadridge to power its collateral management platform.
"Our alliance will extend the use of Lombard Risk's technology and our joint expertise within key markets and segments, particularly in the important North American market," Wisbey said in a statement.
Broadridge is listed on the New York Stock Exchange and provides banks, broker-dealers, mutual funds, and corporations with pre-trade, trade, and post-trade processing services, amongst others.
Lombard Risk Management shares were Thursday quoted at 11.75 pence, down 2.1%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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