Lombard Risk is expanding its teams in Australia and New Zealand following a surge in demand for its regulatory technology (RegTech) and collateral management tools.
The expansion will be headed up by Colm Gaughran as country manager of both regions based in Sydney.
Gaughran - who has more than 20 years investment experience - joined Lombard Risk in 2016 having departed his role at JP Morgan as global head of collateral management product.
The firm said demand for RegTech has been driven by the Australian regulatory authority’s overhaul of transaction reporting requirements for the first time in 15 years.
Australia’s Authorised Deposit-Taking Institutions (ADIs), which comprise banks and other financial service institutions in the region, are seeking new ways to deal with complex regulatory changes, Lombard risk added.
Commenting on the expansion, Alastair Brown, CEO at Lombard Risk, explained firms are increasingly looking to work with experienced suppliers to meet changing regulatory requirements.
“We are seeing increasing uptake of the Lombard Risk AgileREPORTER solution for regulatory reporting, and COLLINE and AgileCOLLATERAL solutions for collateral management in the APAC region, and are expanding our presence in Australia and New Zealand to better support this market demand,” he said.