Source: Rule Financial
Rule Financial, the London-based business and IT consultancy, today announced the launch of its hedge fund practice and the appointment of hedge fund IT specialist Martin Rayner as senior consultant, following a significant growth in hedge fund clients over the past 12 months.
Rule Financial plans to double the size of its hedge fund business during 2007 with a dedicated team of consultants and services designed specifically for the sector. It will offer a range of services, aimed at helping hedge funds achieve Straight-Through Processing (STP) and scalability within their business operations, which include business process reviews, system selection, project implementation and business continuity planning. It will also provide selective outsourcing for non-core IT functions including application management, IT development and support.
Stephen Swindon, head of hedge fund practice, Rule Financial, comments: "The days of hand written trade tickets and manual reconciliations are numbered. Hedge funds need sophisticated technology to scale up operations without a big increase in operational staff. As a result, they are increasingly reviewing and re-designing their business processes to benefit from automation, drive STP and provide greater levels of transparency. Our experienced team of consultants, which now includes industry expert Martin Rayner, has been established to meet this demand. Our tailored services enable hedge funds to improve efficiency and operating performance, while delivering reduced costs and operational risks."
Rayner has extensive developer and project management experience, having worked in-house and as an IT consultant for hedge funds and investment banks including Cheyne Capital Management Ltd, Fleet Bank, SunGard Trading Systems and PA Consulting Group.
David Field, managing director, Rule Financial, comments: "As the hedge fund sector continues to expand we have seen increased demand for innovative, robust solutions that enable firms to effectively manage increasingly complex processes. Rule Financial's hedge fund practice is well positioned to add significant value to hedge funds looking to maximise their investment in technology and reduce operational risks. We understand the issues facingg the industry and are able to design, implement and manage the most appropriate solutions and aid the transition to revised working practices."