Codefarm, the structured credit technology company, has opened new headquarters in the City of London to help meet the increasing demand for its technology and services.
Codefarm's staff numbers and revenues have more than doubled annually for the past four years. The new London HQ will accommodate the growing UK sales, marketing and customer support divisions. A new development team in Slovakia has more than doubled the resources of the development division based in Brighton. Codefarm's offices in New York will continue to service the North American markets.
Jeremy Mabbitt, CEO of Codefarm, said: "Codefarm's growth shows no signs of abating despite the recent turbulence in the market. In fact, we have seen dramatic increases in Galapagos usage over the past few months where managers in particular have been looking to Galapagos to help them manage the volatility in the market. We expect sustained organic growth throughout 2008 and beyond.
"With three times as much floor space as our previous City offices, our new headquarters provides a first-class meeting place for our growing number of customers. Product development remains key to Codefarm's success and the doubling in size of our development and research division through the creation of an additional development team in Slovakia means that we can respond even more rapidly to customer needs and preferences."
Codefarm's Galapagos has raised standards in the structuring and management of CDOs. Its use of evolutionary algorithms combined with the resources of a massive hosted compute grid have enabled unprecedented performance in portfolio optimization. Galapagos is used by financial institutions of all sizes, with clients ranging from the industry's leading CDO arrangers to small boutique operations.