Rule Financial reports solid first half

Source: Rule Financial

Rule Financial, an independent provider of business consultancy, IT consultancy and IT services to the global investment banking community, has announced that its sales of £26m for the first half of 2011 have exceeded target.

This follows an exceptionally strong 2010 which saw the company deliver £38.3m in revenue, a 40 per cent increase on 2009 figures.

Recent company growth has been driven by Rule Financial's focus on developing and recruiting sector specialists who work closely with clients in London and New York, advising them on a broad range of issues from risk management to mobile and multiplatform trading deployments.

The company is also responding to increasing client demand for complex systems development and integration with a combination of onshore and nearshore delivery of services. To meet this demand in the first half of 2011, Rule Financial has added 30 more members of staff to its team in Poland and moved to larger purpose-built premises in Łódź.

Rule Financial now advises 9 of the top 10 global investment banks, reinforcing its position as the leading independent sector-specialist provider of business consultancy and IT solutions for the investment banking market.

In the past six months, investment banks have relied on Rule Financial for support with projects in areas such as OTC Derivatives Clearing, Collateral Management Optimisation, and Mutiplatform UX design and build for eTrading and Risk Reporting. The company has also witnessed growing demand for application support services to help banks deliver cost-savings and business efficiencies. Rule Financial is now the leading provider of support for the Global One application.

More generally, in recent months the company has continued to widen its scope; winning major global investment banking clients in London, New York and Singapore.

The continued expansion and successful delivery of services has culminated in the recent rebranding of the company to reflect its enhanced specialist capabilities. As part of this rebranding, Rule Financial has launched a new corporate website, providing additional value for clients by providing thought leadership within investment banking, operations and IT.

Commenting on Rule Financial's first half results, Chris Potts, CEO of Rule Financial, said: "Despite volatile market conditions, Rule Financial has delivered strong H1 sales performance and we expect this growth to continue in H2.

The growth of our business in Poland means we can now offer scalable, high-quality delivery capabilities for specialist areas of investment banking, providing the operational efficiency and flexibility that is so crucial for our clients. As we look to the second half of this year, I anticipate our growth will be driven by specific projects focused on complex systems integration, application support services and combinations of onshore and nearshore delivery.
We are also working closely with many clients on data loss prevention projects in light of the recent high profile data security breaches and the rise of whistle-blowing websites, such as, WikiLeaks."

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