The Pictet Group, the Switzerland-based independent wealth and asset manager, has selected Wolters Kluwer Financial Services’ 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 organisation’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.
“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,” says 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.”