Press Releases
Smith & Williamson Selects SunGard's Ambit to Help Enhance its Liquidity Management Operation
August 4, 2010 — Boston, MA
Smith & Williamson Investment Management Ltd. (Smith & Williamson), a leading independent provider of investment management and financial advisory services to private clients, corporates, professional practices and non-profit organisations, has selected SunGard’s Ambit. Ambit Asset Liability Management and Ambit Liquidity Risk Management will help Smith & Williamson enhance its liquidity management processes and help its compliance with the FSA’s new liquidity management regulations.
It is critical for all banks to have robust systems for the management of liquidity, and to be able to plan for sudden unforeseen shocks. Smith & Williamson selected Ambit to help it perform stress testing for idiosyncratic, market wide and combined scenarios, and to assist with contingency planning and managing the cost of liquidity and capital. Ambit will also help the bank manage interest rate risk, create dynamic balance sheets to guide management strategy, allocate financial resources and comply with new and evolving regulatory developments.
Neil Cullum, director of banking at Smith & Williamson, said, “One of our key goals is to be able to demonstrate to both clients and regulators that our banking operation is soundly based and conservatively managed, with high levels of liquidity and capital and robust controls for their management. We are excited about the implementation of SunGard’s Ambit as it will help us gain greater detailed risk information and modelling capabilities, and also help us comply with the regulatory requirements for disclosure.”
Andreas Hug, general manager for SunGard’s Ambit Risk & Performance Management business unit, commented: “Lack of liquidity was of course one of the prime causes for the global financial crisis. SunGard’s Ambit Asset Liability Management and Ambit Liquidity Risk Management help customers to comply with industry regulations as well as focus on more rigorous stress testing and increasing transparency. This can help investment management firms like Smith & Williamson manage liquidity and maturity transformations for their client deposits across different asset classes and major currencies.”
About Smith & Williamson
Smith & Williamson is an independent professional and financial services group employing around 1500 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices, and mid-to-large corporates. The group operates from offices in London, Belfast, Birmingham, Bristol, Dublin, Glasgow, Guildford, Salisbury, Southampton and Worcester. Smith & Williamson Investment Management Limited is part of the Smith & Williamson group. Smith & Williamson Investment Management Limited is Authorised and regulated by the Financial Services Authority.
About Ambit
SunGard’s Ambit banking solution suite helps retail, corporate and private banks to better manage their customers, staff and capital. We work with over 800 customers in over 70 countries retain and acquire customers, achieve dynamic staff efficiency and measure and allocate their capital. For more information, visit www.sungard.com/ambit.
About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.
Trademark Information: SunGard, the SunGard logo and Ambit are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.