Northern Trust, a Chicago-based global custody and investment management group, has chosen Fitch Risk’s OpVar software suite and its data offerings, which manage quantitative and qualitative operational risk. The move comes at the expense of risk management technology rivals such as Centerprise and SAS.By the end of June, Northern Trust had assets under administration of $2.3 trillion and assets under management of $527 billion. Stephen Schoeneman, head of Northern Trust’s corporate operational risk group, said: “We are confident this will provide our business managers with a risk management tool set that will provide value-added information”.
Fitch Risk provides risk technologies and risk advisory services. OpVantage is its operational risk arm. It is an affiliate of Fitch Ratings and a subsidiary of Paris-based Fimalac, a business support services group.
More on Technology
Markup language could reduce high levels of operational risk
Sponsored feature: Northern Trust
Off-the-shelf energy trading and risk management (ETRM) systems are more popular than ever before, according to Energy Risk’s annual software survey. However, companies say they still require sig...
Structured Products Technology Rankings 2014
Sign up for Risk.net email alerts
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.