The company is now expecting its full-year revenues to be some 70 percent ahead of the market forecasts. Brady Plc has also clinched a landmark deal with fast-growing Swiss bank Man Brothers Group in Geneva to handle its trade finance operations.
Gavin Lavelle, Brady CEO, said that there has been overwhelming response from the banks in the company’s recently-launched collateral management solution. He said, “It enables banks to follow every relevant detail of the trading operation that may affect the collateral and underlying risk for the bank, coupled with the ability to value the collateral on a real time basis.”
“Since the collapse of the Lehman Brothers and the pursuant financial crisis in which we still find ourselves today, collateral management has received much attention from regulators and banks,” he added.
While talking specifically about Brady’s linkage with Man Brothers Group, he said that Brady’s solution offered the ability to integrate the Swiss bank’s financial instruments, reduce operational risk, improve transparency and support decision making and governance. This, in his words, was “essential functionalities in today’s climate.”
Haçade Bensalem, CEO of Man Brothers Group, said the solution provided by Brady “will enable us to follow in full detail all trade operations initiated by our clients and handle all required financial transactions and documentary credit operations in a fully integrated way.”
“The advantage of full traceability, status history, documentation and approval workflows, fully integrated into the robust trading and risk management solution made Brady the obvious partner for us,” Haçade Bensalem added.