FitchRisk to drop Algo op risk product

NEW YORK -- An executive from FitchRisk, the New York-based risk management software firm, has told Operational Risk that the firm plans to drop Algorithmics’ op risk software offering in the wake of its purchase of the Toronto-based software firm.

Dan Mudge, the new head of the financial risk management team at the combined entity, says Lloyd Harding will be heading the op risk product area. Both hail from the FitchRisk side of the firm.

"We decided that we are going to be basically marketing and selling one solution -- the OpVar solution," said Mudge in an exclusive interview. "The decision on that was that OpVar had a bigger footprint and larger client base as well as a larger group associated with that product. We are certainly

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