The assets and liabilities of IQ Financial Systems (IQFS), a majority held subsidiary of Deutsche Bank, has been acquired by Misys for $40m in cash. The acquisition extends Misys’ penetration in the commercial lending segment of the banking software market through IQFS’s LOAN IQ product – which manages the lifecycle of a loan. Misys expects to build upon IQFS’s position in the North American market whilst achieving further penetration into the European and Asia Pacific markets. The purchase was funded from Misys’ existing resources. IQFS will be integrated into Misys Wholesale Banking Systems. The CEO and President of IQFS, Edward Ho, will be among more than 100 staff transferring to Misys.
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.