GENEVA--(BUSINESS WIRE)--Wolters Kluwer Financial Services announced today that the Pictet Group, the Switzerland-based independent wealth and asset manager, has selected its Financial Risk Management solution for operations at its head office in Geneva. The solution will be integrated with Wolters Kluwer Financial Services’ Regulatory Reporting capabilities, currently implemented at the organization’s operations in France, Hong Kong, Luxembourg, Singapore, Spain and Switzerland. The Financial Risk Management solution will enable the bank to perform asset and liability management, liquidity risk, market risk and capital calculations at head-office level.
Pictet required an integrated and scalable solution that provides automated ALM, liquidity risk and market risk capabilities through a centralized data model, with limited manual intervention in order to reduce operational risk. Wolters Kluwer Financial Services was selected ahead of the organization’s previous risk management system, due to the provider’s strong capability to provide numerous types of indicators, such as incomes, VaR, Gaps, capital requirements and liquidity ratios on one singular platform. Pictet also appreciated the ability to address various other business and regulatory needs in the form of stress scenarios, dynamic simulations and reporting with the solution.
“Wolters Kluwer Financial Services’ integrated platform provides us with the ability to conduct more advanced risk measures and handle multiple positions, including complex derivatives, enabling a more in depth understanding of our trading risk portfolio in particular, as well as add additional finance capabilities, such as funds transfer pricing and consolidation at a later date,” said Emmanuel Duterme, Risk Manager at Pictet. “Following a successful track record of providing regulatory reporting services to our business, we have first-hand experience of the knowledge and expertise that Wolters Kluwer Financial Services brings to the table. This combined with the Risk solution’s strong functionality, which included impressive dynamic simulation results; integrating the solutions on one platform made sense from both a regulatory and business stand point.”
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides more than 15,000 customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: AppOne®, ARC Logics®, AuthenticWeb™, Bankers Systems®, Capital Changes, CASH Suite™, FRSGlobal, FinArch, GainsKeeper®, NILS®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services is part of Wolters Kluwer, which had 2013 annual revenues of €3.6 billion ($4.7 billion), employs 19,000 employees worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.