SunGard has taken over securities lending and collateral management software provider Finace from Swisscom IT Services. Finace provides solutions and specialist knowledge for securities finance and collateral management operations.
The acquisition will boost SunGard’s existing portfolio of securities finance solutions and enhance offerings to European regional and private banks. Finace will be a part of SunGard’s capital markets business headed by Brian Traquair and function in the securities finance business unit led by Craig Costigan. The management team of Finace, led by managing director Igor Salzgeber, will maintain their existing roles.
Click here for the release from PR Newswire.