Banks' Regulatory Spend Spurs Rule Financial's Growth
Poster: SySAdmin
Posted on September 3, 2012 at 8:56:01 AM
Banks' Regulatory Spend Spurs Rule Financial's Growth
LONDON, September 3, 2012/PRNewswire/ --
IT consultancy boosts revenues by 15%, with growth in the UK, US and Canadian
investment banking markets, as well as in nearshore development centres in Poland and
Spain.
Rule Financial [http://www.rulefinancial.com ], an independent provider of business
consultancy, IT consultancy and IT services to the global investment banking community,
today announces its growth in revenues of 15 per cent year-on-year and the recruitment of
more banking domain specialists and technical experts. In doing so it has grown its
presence within nine of the top ten global investment banks.
Despite many economists doubting banks' IT spend this year (e.g. Celent predicted
growth of just 2.8% in 2012), Rule Financial is continuing to expand globally. Rule
Financial has found that regulatory pressure is a key driver for projects that it is
winning in capital markets; with the Dodd-Frank regulation in the US and EMIR in Europe
requiring banks to completely overhaul OTC derivatives clearing systems.
H1 2012 has also witnessed an increase in the nearshoring of client IT development and
support services to Poland, with Rule Financial's presence in ?od? increasing in
headcount to 178 and planned to rise to 200 by the end of the year. ?od? boasts a highly
skilled, multi-lingual workforce, fresh from the many local technical universities;
further evidenced by the likes of Citi and BNY Mellon who have also recently opened
centres in the country.
Rule Financial differentiates itself on its domain expertise and has bolstered this
capability in the London headquarters with a number of key hires joining the OTC clearing
and collateral management team. These include James Tomkinson and Jonathan Philp,
specialists in OTC clearing and collateral management. Marina Potok also joined the team
from UBS in August, as a specialist in OTC, structured and securitised products. Rule
Financial has also launched a new application managed services (AMS) practice, spearheaded
by Pauline Parker, who supports global clients' vendor and proprietary systems. In
addition, the North American arm of Rule Financial continues to grow, and has recently
been enhanced by the appointment of John Free from Sapient, as CTO for North America.
Chris Potts, CEO, Rule Financial, said: "The wave of regulation which was triggered by
the 2008 financial collapse is now being felt by the world's financial institutions, which
is in turn driving IT strategies. Dodd-Frank, EMIR and Basel III are just a few of the
regulations for which firms are turning to Rule Financial for guidance and consultancy.
Our domain experts have incredible knowledge of the practical implications of these
regulations, which is reflected in the increase in consultancy we are undertaking and the
increase in our revenues. Our early move to open a development centre in Poland is not
only supporting, but is also helping to drive our growth. We fully intend to use our
success in the first part of the year as the platform from which we continue to drive for
the recruitment of quality staff and continued financial success."
------
About Rule Financial
Rule Financial [http://www.rulefinancial.com ] is a leading independent provider of
business and IT services, employing over 450 people in the UK, the USA, Spain and Poland.
Our specialists work alongside their counterparts at the world's leading investment banks,
hedge funds and financial institutions, helping to lower costs, improve productivity and
extract the maximum value from IT investments.
We cover all aspects of advisory, execution and support services. Our domain
specialisms include: Securities Finance, Prime Services, Risk Management, Trading, Legal &
Compliance and Operations. Our delivery specialisms include: advisory and execution
services in system development, user-centric design, software development, integration,
testing, on-going support and IT outsourcing.
We offer our clients end-to-end solutions that solve their complex business and IT
issues. Our specialists have a deep understanding of the increasing regulatory pressures
faced by financial institutions and a number of our recent engagements have included
strategic consultancy around OTC derivatives regulation and the implications of central
clearing on integrated systems and collateral management.
For more information about Rule Financial please contact:
Stuart Cooper
email: rule@hotwirepr.com
tel: +44-(0)20-7608-4695
web: http://www.rulefinancial.com
Source: Rule Financial
LONDON, September 3, 2012/PRNewswire/ --
IT consultancy boosts revenues by 15%, with growth in the UK, US and Canadian
investment banking markets, as well as in nearshore development centres in Poland and
Spain.
Rule Financial [http://www.rulefinancial.com ], an independent provider of business
consultancy, IT consultancy and IT services to the global investment banking community,
today announces its growth in revenues of 15 per cent year-on-year and the recruitment of
more banking domain specialists and technical experts. In doing so it has grown its
presence within nine of the top ten global investment banks.
Despite many economists doubting banks' IT spend this year (e.g. Celent predicted
growth of just 2.8% in 2012), Rule Financial is continuing to expand globally. Rule
Financial has found that regulatory pressure is a key driver for projects that it is
winning in capital markets; with the Dodd-Frank regulation in the US and EMIR in Europe
requiring banks to completely overhaul OTC derivatives clearing systems.
H1 2012 has also witnessed an increase in the nearshoring of client IT development and
support services to Poland, with Rule Financial's presence in ?od? increasing in
headcount to 178 and planned to rise to 200 by the end of the year. ?od? boasts a highly
skilled, multi-lingual workforce, fresh from the many local technical universities;
further evidenced by the likes of Citi and BNY Mellon who have also recently opened
centres in the country.
Rule Financial differentiates itself on its domain expertise and has bolstered this
capability in the London headquarters with a number of key hires joining the OTC clearing
and collateral management team. These include James Tomkinson and Jonathan Philp,
specialists in OTC clearing and collateral management. Marina Potok also joined the team
from UBS in August, as a specialist in OTC, structured and securitised products. Rule
Financial has also launched a new application managed services (AMS) practice, spearheaded
by Pauline Parker, who supports global clients' vendor and proprietary systems. In
addition, the North American arm of Rule Financial continues to grow, and has recently
been enhanced by the appointment of John Free from Sapient, as CTO for North America.
Chris Potts, CEO, Rule Financial, said: "The wave of regulation which was triggered by
the 2008 financial collapse is now being felt by the world's financial institutions, which
is in turn driving IT strategies. Dodd-Frank, EMIR and Basel III are just a few of the
regulations for which firms are turning to Rule Financial for guidance and consultancy.
Our domain experts have incredible knowledge of the practical implications of these
regulations, which is reflected in the increase in consultancy we are undertaking and the
increase in our revenues. Our early move to open a development centre in Poland is not
only supporting, but is also helping to drive our growth. We fully intend to use our
success in the first part of the year as the platform from which we continue to drive for
the recruitment of quality staff and continued financial success."
------
About Rule Financial
Rule Financial [http://www.rulefinancial.com ] is a leading independent provider of
business and IT services, employing over 450 people in the UK, the USA, Spain and Poland.
Our specialists work alongside their counterparts at the world's leading investment banks,
hedge funds and financial institutions, helping to lower costs, improve productivity and
extract the maximum value from IT investments.
We cover all aspects of advisory, execution and support services. Our domain
specialisms include: Securities Finance, Prime Services, Risk Management, Trading, Legal &
Compliance and Operations. Our delivery specialisms include: advisory and execution
services in system development, user-centric design, software development, integration,
testing, on-going support and IT outsourcing.
We offer our clients end-to-end solutions that solve their complex business and IT
issues. Our specialists have a deep understanding of the increasing regulatory pressures
faced by financial institutions and a number of our recent engagements have included
strategic consultancy around OTC derivatives regulation and the implications of central
clearing on integrated systems and collateral management.
For more information about Rule Financial please contact:
Stuart Cooper
email: rule@hotwirepr.com
tel: +44-(0)20-7608-4695
web: http://www.rulefinancial.com
Source: Rule Financial