Global financial information services company, Markit has acquired QuIC Financial Technologies, adding risk analytics and enterprise risk management services to its portfolio and expanding its proposition across independent pricing, valuations and analytics across asset classes.
Markit recently combined its valuations and analytics services - comprised of Markit’s Totem, Portfolio Valuations, Valuations Manager, Evaluated Bonds and Structured Finance businesses - under the direction of Executive Vice President Sal Naro.
Lance Uggla, CEO of Markit, said: “The field of risk analytics continues to grow at an accelerated pace and presents some very interesting opportunities... By acquiring one of the leading providers of risk analytics, Markit will gain significant enterprise risk management capabilities which will allow us to provide our customers with the comprehensive solutions they require to identify and manage risk.”
Nigel Cairns, president and CEO of QuIC, said: “Joining forces with Markit will enhance our ability to offer state-of-the-art risk tools to the financial markets and other sectors. Risk analytics begin with good inputs and I am confident that, with Markit’s data and resources, we will provide an even better service to our clients and be able to develop exciting new offerings…”
QuIC was founded in 1998 and is headquartered in Vancouver, Canada with offices in Calgary, London and New York. QuIC’s 105 employees will join Markit.
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