German-based GFT Group, a multi-discipline consulting firm for the financial services sector, has reported that its IT consulting unit, Rule Financial, has been renamed as GFT UK* and integrated into the group’s UK operations.
GFT Group’s acquisition in June 2014 enhanced its overall offerings after completing the purchase of Rule Financial, a specialist consulting firm that covers investment banks, wealth management and financial markets participants. The group’s aim was to extend the coverage it offers to its clients through the additional business units that Rule Financial holds.
In a notification, the firm reported that following a period of integration, the GFT brand will be used in place of the previous Rule Financial brand across all channels, including a new single, combined office space for the entire GFT UK team, which will now be located at Bank, in the heart of the City of London.
Ulrich Dietz, CEO of the GFT Group, commented in a statement: “The acquisition of Rule Financial has strengthened our position in the fast-growing capital markets sector.
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We see further strong growth potential in the field of investment banking – a raft of new regulation in the UK and USA is forcing all market participants to make radical adjustments to their processes and IT systems.”
Regulatory changes have been a key component of the post-2008 financial trading landscape and banks have been battling with new proposed rulings, such as EMIR and MiFID II, that could alter the marketplace. Firms such as GFT Group, provide in-depth analysis and recommendations on such subjects. GFT UK will offer the group’s combined services to its clients.
Christopher Ortiz and Gareth Richardson, joint Managing Directors of GFT UK, added: “Our combined offerings, mean we can now provide an even more comprehensive portfolio of solutions for the capital markets sector – including the necessary business consultants and IT experts.
The move has been a clear win-win situation for both companies, and now the time is right to extend our reach as GFT. As a powerful innovation partner, we aim to shape the sector’s future together.”
*GFT UK has no link to FX and CFD brokerage firm GFT.