Serono Selects SunGard for Treasury Risk Management

Serono, the Swiss-based biotechnology group, has selected SunGard’s AvantGard for its central treasury operation in Geneva. AvantGard-Integrity will provide fully integrated treasury and risk management and a strongly enhanced platform for managing its financial assets, valued at $1.8bn at the end of 2004. Paul Wilkinson, treasurer of Serono, said: “We selected AvantGard to help improve the overall treasury management capability through more extensive risk management functionality and more complete coverage of financial instruments. Optimum management of both foreign exchange and financial assets was key to the project, which in turn demanded accurate and reliable valuations and compliance with evolving accounting and governance standards, all functionality that AvantGard provides.”


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