Reval, a global leader in derivative risk management and hedge accounting solutions and services, today announced further expansion into Central Europe, opening a German office and appointing Walter Schipper as Country Manager.
With an already established presence, Reval considers Germany a high growth market and a very strategic part of its European strategy of increased investment in markets where there has been a strong demand for its solutions.
"The opening of Reval's German office comes at a very exciting time as Reval continues its global expansion in these very unique economic times" said Jiro Okochi, CEO and Co-Founder at Reval. "We have seen a strong demand for Reval's solutions in Germany, and this move further solidifies our ongoing commitment to the German market and increased footprint into Continental Europe."
"Current market conditions and the strong focus on risk management by German corporations creates a synergy for Reval's solutions and services" said Walter Schipper, Country Manager, Germany". "Reval's best-of-breed derivative risk management and hedge accounting solutions have the ability to help corporations manage P&L volatility and comply with international regulations such as IAS 39 and IFRS 7. I am very excited to be a part of the Reval team and help drive continued success in Germany."
"Walter's wealth of experience in finance, treasury and technology spans 20 years and makes him the perfect addition to the Reval EMEA team" said Nigel Sirett, Managing Director, EMEA. "I look forward to working closely with Walter as we draw on his expertise to continue our momentum in Germany."
Walter brings experience in building and developing business in Germany through his engagements with software and service companies such as TKS-TATA and FERNBACH-Software for whom he established the German Sales and Support office. Walter joins Reval from Sungard where he held the position of sales manager focused on trading and risk management systems for financial institutions.
Reval's hedge accounting solutions and derivative valuation services address the complex business, valuation, and accounting requirements for derivative management foor interest rates, foreign exchange and commodities at over 350 clients globally. Reval's products and services help companies implement better approaches to effectiveness testing under stringent accounting rules such as FAS 133, IAS 39, IFRS 7, FAS 157 and FAS 161, providing better control of operational risk, and helping to avoid financial restatements and other regulatory pitfalls.