21-Sep-04
Odyssey Asset Management Systems, a leader in wealth management and Private Banking solutions, has taken a further step in increasing its world coverage by joining forces with Capital Market Solutions Limited (CMS) of Australia.
Under terms of the partnership, CMS will be responsible for the distribution, implementation and support of Odyssey products and solutions in the Australian/New Zealand region.
The announcement of the partnership was made at the Odyssey annual conference, the occasion where Odyssey, its clients, partners and prospects meet to discuss the evolution in the wealth management industry and where Odyssey showcases its future product strategy.
“Australasia is an important part of the wider Asian region.” Says Antoine Duchateau, Chief Executive Officer of Odyssey. “With four of the top 100 world banks and a very established wealth management and asset management industry, it holds significant potential for Odyssey solutions.”
With in excess of 40 clients, CMS has established itself as a key financial software solutions provider in the region. Its core products, iBROKER and NOVA, service both domestic and international markets, enabling CMS to provide a range of solutions in the securities settlement arena.
“There are very close synergies between our two companies, and we are very confident that our partnership will yield a very high degree of success” says Duchateau, “CMS has developed a very impressive foot hold in the Australian market and are extremely well positioned to capitalise on the growth in the wealth management industry.”
Speaking about the relationship, Ralph Horne, Chief Executive Officer of CMS, comments: “We are very pleased to enter this partnership with Odyssey. Their world class products are a natural complement to our own solutions and will allow us to address a wider audience of clients, in addition to offering significant added value to our existing client base.”
The partnership is already off too a strong start with the two companies working on a number of opportunities in the region.
About Capital Market Solutions
Capital Market Solutions Limited was established in 2003 as a result of a management buy-out of the NOVA, iBROKER and SMS businesses of Misys Securities Trading Systems Ltd. The company provides clearing and settlement solutions to approximately 40 broker/dealers and investment banks across Australia, New Zealand, Asia and the United Kingdom. With offices in Australia, Hong Kong, Malaysia, New Zealand and the UK, Capital Market Solutions employ approximately 80 staff. The company has recently formed an Asset Management Division for the distribution of order management, compliance and wealth management products in Australia and across the Asia Pacific.