Reuters strengthens risk management team in Asia

Reuters has boosted its risk management staffing in the Far East with the appointment of John Palmiero as Hong Kong-based head of trade and risk management for Asia. It also released its latest version of Kondor+, a real-time risk and position-keeping system.

A 20-year banking software veteran, Palmiero has also held positions at US news portal Knight Ridder and, most recently, at Misys International Banking Systems, where he was regional sales director.

In his new role, he is responsible for profit and loss, contribution, operations, and customer satisfaction, says Andrew White, global head of Reuters trade and risk management. Reuters is also relocating Karen Schuppe to Asia from Reuters Financial Software in Paris to assume the newly created position of regional head of business development. Schuppe will report to Palmiero.

Meanwhile, Reuters is about to release version 3.0 of its front-to-back-office solution, Kondor+, which will be displayed for the first time at the ACI congress in Manila at the end of May.

The latest version enables 24-hour trading and global access by consolidating databases on a single server, which can be hosted from one hub. Additional features in version 3.0 include a global forex position, allowing users to view all forex-related positions in real-time.

The new version also has a redesigned repo module that covers a variety of repo transactions along international market standards and country-specific norms, including tri-party repos. New on-screen features will make the display more user-friendly, Reuters said.