RiskMetrics Group, a leading provider of risk and corporate governance services to participants in the global financial markets, announced today that it has acquired UK–based Applied4 Technology Ltd., a firm known for its expertise in performance attribution. The acquisition of Applied4 and its team of experts led by Mick Brant, paves the way into the multi–asset class performance attribution space for RiskMetrics at a time when understanding the risk and performance attributes of an investment portfolio have never been greater.
"We are delighted to be joining the RiskMetrics family as the core of a new Performance Attribution business and set of offerings," said Mick Brant, CEO of Applied4. "Over the years we have seen a dramatic increase in the complexity of Performance Analytics as the field has expanded beyond just equity portfolios to now encompass fixed–income funds, balanced funds, and even hedge funds; all spaces in which RiskMetrics has delivered expert risk solutions for over a decade."
Established in 2006, Applied4 Technology Ltd. is a specialist provider of technology solutions in the field of investment performance measurement. The firm was created by Mick Brant and several former colleagues from Mellon Analytical Solutions (formerly Russell/Mellon CAPS), where Brant was the CEO and was responsible for all of Mellon´s analytical business outside of North America.
Fitting perfectly into RiskMetrics´ multi–asset class sweet spot, the integration of Applied4 will help investors better understand the behavior of assets and transactions in relation to the portfolio as a whole or as it relates to other asset pools, thereby improving a manager´s ability to quantify the factors that impact the performance of any asset pool from multiple viewpoints.
Jorge Mina, Co–Head of RiskMetrics Risk Business comments, "Our acquisition of Applied4 and our entry into the Performance Attribution space was guided directly by our client base who have strongly indicated to us the industry´s need for advanced Performance Attribution analytics built with the same style, detail, quality and transparency of our risk offerings. Rather than simply bolting–on a separate product, we will be offering a complete Performance Attribution framework from within our Risk Management infrastructure to provide clients with an integrated view of risk and performance that takes advantage of existing client feeds, integrated market and benchmark data, and a proven ASP architecture."
The acquisition was closed on October 3 and the Applied4 team will join RiskMetrics immediately, operating from its current office in Leeds, England. The terms of the deal are not being disclosed.
About RiskMetrics Group
RiskMetrics Group is a leading provider of risk management and corporate governance products and services to participants in the global financial markets. By bringing transparency, expertise and access to the financial markets, RiskMetrics Group helps investors better understand and manage the risks associated with their financial holdings. Our solutions address a broad spectrum of risk across our clients´ financial assets. Headquartered in New York with 19 global offices, RiskMetrics Group serves some of the most prestigious institutions and corporations worldwide. For more information, please visit: www.riskmetrics.com.
