Askari CEO and founder Davies to step down

Peter Davies, founder and chief executive of Askari, told RiskNews that he has resigned from the company after a decade at the helm of the New York-headquartered specialist buy-side risk management vendor.

A final timeframe has not been set for Davies’ departure, but he said the move was well planned and well co-ordinated. “It’s not a problem to anyone,” said Davies.

Davies gave no firm indication as to why he was severing his ties with the company that he founded in 1992, and which he subsequently sold to financial services specialist State Street, six years later.

But he did point out that while his departure would not happen for a while, it was likely to take place at the end of June. Davies claimed he has not made any plans other than to “take a couple of months off and enjoy the summer”. His successor has yet to be named.

Davies' departure coincides with Askari’s final negotiations with two global buy-side institutions for the installation of TruView, the firm’s flagship risk management suite. Askari is also expected to announce two substantial Asian contracts before the end of this year.