Head office: Theaterstrasse 17, 8400 Winterthur, Switzerland Tel: +41 52 560 60 00 Email: ambitinfo@sungard.com Other offices: Australia, Belgium, Canada, China, Czech Republic, Denmark, France, Germany, India, Israel, Italy, Japan, Luxembourg, Malaysia, Mexico, Netherlands, New Zealand, Pakistan, Philippines, Singapore, Slovakia, South Africa, South Korea, Sweden, Switzerland, Taiwan, Thailand, UAE, UK, US, Vietnam Website: www.sungard.com/ambit Twitter: @SunGard Founded: Sungard was set up in 1982 as a spin-off of a division of Sun Oil Company Ownership: Venture capital and management owned Number of staff (FIS): 55,000


Ambit Risk & Performance


Sungard is made up of a number of segments. One is Capital Markets, which is centred on a range of applications for the treasury and capital markets space, most of which include risk management capabilities. The applications include Front Arena, positioned for larger banks; Sierra for mid-tier; and Quantum for low tier and corporate treasury. As is the way with Sungard, there have been rebrandings, so the latter for instance is now Avantgard Treasury. For trading book risk, Adaptiv is the offering, again a


coming together of pieces, comprising Panorama, Credient (a global limit management system based on the GEIS-derived RXM), Infinity, Opus and Kronos (a risk management system acquired in 2002). Ambit Risk & Performance is one of four parts that make


up another of the segments, banking. The other three parts are private banking (mainly centred on the more or less Switzerland-specific Apsys, now Ambit Private Banking), retail banking (the System Access-derived Symbols core banking system, now Ambit Core Banking) and corporate banking (with cross-over here as it encapsulates the positioning of the treasury systems for this space). The focus for the banking unit is mainly tier two and tier three banks, including for the Risk & Performance business. Its solutions are basically intended to improve the risk return of private, retail and corporate banks. A key aspect of this is Asset Liability Management (ALM), with Sungard’s offering centred on the solution of Almafin, a Switzerland-based company that was acquired in 2001. This company’s offering has been broadened and has come to reside with other components to form what Sungard now claims is a broad, integrated solution. Sungard had initially acquired Switzerland-based Jaeger &


Partner in 1998. This Swiss software and consulting company had been set up the previous year. The Almafin business was added to it to form a new operating unit called AlmafinJaeger. Jaeger & Partner provided market, credit risk and asset liability management software and consulting services to private


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banks and corporations in Switzerland, Liechtenstein and Austria.


Both Almafin’s Marco risk software and Jaeger’s Focus


asset liability management solution were highly tailored to the Swiss legal and regulatory market. The new unit had close ties to the University of St Gallen, providing the company with access to financial research. Dr. Stefan Jaeger, founder and delegate of the board for Jaeger & Partner, was appointed to run AlmafinJaeger as general manager. He was also a founding member of Almafin in 1993.


The other components added after this comprised


Bancware (Boston-based company, acquired in the mid- 1990s), Whitelight (bought in the early 2000s), ERisk (New York-based, bought in 2005) and Inmatrix (Australia-based, mainly specialising in credit assessments, acquired in 2010). There is also a third party offering, Sword, for the operational risk piece. Dubbed Bancware OpRisk when sold by Sungard, this stems from Ireland-based Ci3. Sungard had previously had a tie-up for operational risk with UK-based Raft International. The Ci3 partnership was forged in 2006. One other component is now from Sugard’s own Adaptiv unit, which contributes the market risk component, replacing a portion of the Almafin offering a few years ago. The acquired businesses mostly continued as separate entities during the 1990s and into the new century. This was the Sungard model. They retained their own autonomy, P&L, R&D – which they largely had to finance themselves – and sales and marketing. This started to change from around 2004. There was something of a restructuring and a rationalisation of products, as well as the concept of joint development and shared components. The switch gained more momentum after Sungard was delisted with the arrival of venture capital owners. It was largely from here on that the different risk solutions started to truly come together as an integrated platform. The aforementioned reuse of the Adaptiv component for market risk was a reflection of this. Clearly, many banks have only subsets of the overall suite. In total, Sungard claims 600 users across Ambit Risk & Performance. Sungard has extended its footprint in many


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company details


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