SunGard buys securities lending software provider 01 September 2011Zurich Reporter: Anna Reitman
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SunGard has completed the acquisition of Finace, a provider of securities lending and collateral management software, from Swisscom IT Services.
Finace offers a combination of solutions and specialist knowledge in these niche fields as well as the potential to build SunGard's business in European regional and private banks.
Led by Brian Traquair, Finace will operate within the securities finance business unit headed by Craig Costigan.
Brian Traquair, president of SunGard’s capital markets business, said, “Securities finance requires specialist expertise. The Finace team has a strong reputation in this area, and its skills and solutions will help us enhance our existing offering and create new, compelling propositions for our customers.”
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