Based in Milan, Italy, Mahony has been hired to support strategic expansion and drive business growth. He will be concentrating on developing riskart's suite of services to enable clients to more effectively manage financial risk and compliance in the middle and back-office.

riskart already has an important presence in Italy, the result of over 30 years of software development and service to the financial markets, and has established significant relationships with some of Europe's leading financial institutions due to its understanding of each client's unique and constantly developing requirements. riskart's modular software, which caters for the distinct needs of banks and investment companies in separate versions, covers the administrative, accounting and compliance requirements of middle and back offices. In particular, the flexible nature of the software allows it to be easily adapted to the management of OTC derivatives and structured products.

Mahony brings to the company over twenty years experience in sales and marketing in the financial services industry in areas such as information, trading, risk management and financial technology.

Franco Marinotti, CEO of riskart, commented, "The addition of Gerrard to our team fits in with riskart's strategy of steadily developing our business, whilst maintaining a firm focus on the unique and personalized nature of the service that we provide to our clients in an area that, following the recent financial crisis, remains one of the most critical in contributing to the application of successful risk and compliance management policies."