This year marked a decade since the launch of RiskFirst – and what a journey it has been! More than 3,500 pension plans across the US and UK, with in excess of US$1.5 trillion in assets, use our technology to better manage asset and liability risk. Ten years on, our drive to work with smart people to solve difficult problems, improving experiences for our clients and having fun along the way is stronger than ever.
A key development in our continuing growth is the acquisition of RiskFirst by Moody’s in July of this year. Moody’s Analytics will help us expand the reach of our existing solutions and broaden the opportunities we can offer employees. As part of this, we have created a new software development office in the US, which is currently focused on product innovation and developing our solution for front office asset managers: PFaroe Attribution. Indeed, 2019 has seen RiskFirst press forward right across North America. As well as the software development office, we have also made a number of senior appointments in the region and expanded our reach into Canada.
We’ve welcomed a number of new clients, including Allianz Global Investors, who we’re supporting with their drive into the LDI market, and Athene, for the pension buyout space. We’ve also forged a partnership with Insight Investment to allow clients to incorporate their funds into a wide range of analyses, meaning funds no longer need to be set up individually.
The year’s been topped off by some gratifying award wins: PFaroe was named Asset-Liability Management Product of the Year for the third year running in the Risk Markets Technology Awards 2020 and the UK’s Most Reputable Risk Reporting Solution, as part of CEO Monthly’s 2019 Business Elite Programme. Needless to say, award wins aren’t what drives us, but it’s a boost to receive this sort of external recognition.
We are looking forward to a new year of exciting developments: expanding our reach across North America still further, and developing our products so they continue to help our clients build their businesses.
Thank you to all our clients, partners and staff for your continued support. Wishing you all the very best for 2020!