Odyssey Wealth Management Solution Up and Running within Three Months at Scandinavian Start-Up First Securities Private Banking

Odyssey Financial Technologies, a global provider of private wealth and asset management solutions and services, has announced that Swedbank subsidiary First Securities ASA’s new private banking venture, First Securities Private Banking AS has gone live with the Odyssey Wealth Management Solution. The implementation was completed in three months in preparation for First Securities Private Banking’s official launch to the Norwegian market in January 2008.

Odyssey’s scalable Wealth Management Solution supports the entire process from prospecting to the secure and compliant handling of client data. It automates the investment processes and delivers professional reporting to clients. The comprehensive package with its uniquely integrated Relationship Management and Portfolio Management functionality has been implemented in its standard configuration allowing for Norwegian and First specifics.

Jon Herheim, head of First Securities Private Banking says: “Odyssey’s experience and expertise in delivering Wealth Management solutions in time and to budget has provided us with an excellent head start. Odyssey’s scalable platform will support the growth of our business and First’s strategy of delivering superior private banking services.
First Securities Private Banking’s team of 40 experienced private bankers offer a full range of private banking services including asset management and diversification strategies, pension planning, income and wealth protection, inheritance and generation transitions, and tax management.”

Steve D'Souza, general manager, Northern Europe, Odyssey adds: “First Securities Private Banking is positioned for success in one of the fastest growing on-shore private banking markets in Europe. Odyssey’s Wealth Management Solution eliminates routine processes and provides the ultimate tool set, enabling investment managers to focus on value-added services and comprehensive wealth management services.”

About First Securities Private Banking
First Securities is one of Norway’s leading brokerage houses, with a strong position in the Norwegian securities trading market. The company has one of the highest ranked analysis teams in the business, a strong distribution capacity and a tightly knit team of co-workers that have achieved excellent results for many years.
First Securities Private Banking will create value for customers by capitalising on the know-how, skills and experience in its parent company, in addition through our 40 trusted private bankers with an average of 10 years experience from the private banking / wealth management industry in the Norwegian market.
First’s employees are constantly working to improve their results, and the company maintains a strong focus on reliability, integrity and ethics. Over the past 20 years the team has experienced some of the best booms and worst slumps in the stock market. This has made First employees highly adaptable, and the company has successfully defended its position through constantly changing market conditions. This is also reflected in our team-spirit, where the focus is on stability and thinking in the long term.

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