Dublin risk management firm Quaternion has announced that it will hire 20 people at its Irish headquarters over the next two years after forming a strategic partnership with State Street subsidiary AcadiaSoft.
Quaternion will combine its risk analytics tools with AcadiaSoft’s existing margin and collateral automation solutions infrastructure in order to develop products to simplify compliance with new global initial margin regulations, Initial Margin (IM), which came into effect in 2016.
Quaternion is a capital markets consulting practice that advises on and implements quantitative risk management projects. As well as its Dublin headquarters, it has offices in London, Düsseldorf and New York.
Donal Gallagher, CEO of Quaternion, said, “Combining AcadiaSoft’s existing infrastructure with our risk analytics tools presents opportunities to create new products that will greatly benefit both the smaller players in the non-centrally-cleared market facing near-term hurdles, as well as larger established institutions looking to reduce spend on functions that have become ‘business-as-usual’ and could now be more efficiently outsourced and standardised.”
Quaternion is an Enterprise Ireland-supported firm, the CEO of which, Julie Sinnamon, was on hand to celebrate the development. Sinnamon noted that in order to scale in international markets, Irish companies must be “innovative and competitive” and stated that the new partnership will allow both companies to further rise to their potential and grow.
“Our team at Enterprise Ireland has supported Quaternion for several years to enable the company to realise its global ambition, and I look forward to continuing our work with them as they embark on this new endeavour,” she said.
It has been an excellent week on the jobs creation front so far, especially in the world of finance. Alongside this announcement, financial services firm Grant Thornton revealed that it will grow its employee headcount in Dublin by 400 before 2020. Pharma firm Bausch Health also announced 100 new roles in Waterford while AI player Genesys confirmed that it will create 200 jobs at a new office in Galway..
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