Japanese banking conglomerate Mizuho is to implement the Infinity solution from SunGard to support cross-asset market risk management at its major overseas branches.
The Infinity system is being implemented for the launch of Mizuho Corporate Bank in April. The new entity is the banking arm of Mizuho Financial Group, which was formed in September 2000 by the consolidation of Dai-ichi Kangyo Bank, Fuji Bank, and The Industrial Bank of Japan.
For its new corporate bank, Mizuho sought a market risk management solution that had been used by one of its three founding banks, eventually opting for the Infinity system, initially implemented at Fuji Bank in 1997. At Fuji Bank, the system was installed to support risk management for foreign exchange, cash, interest rate products and securities at its Tokyo and London offices.