RIYADH, Saudi Arabia, September 20, 2010 /PRNewswire/ -- SAGE, the publisher of banking solutions specialized in the development of wealth and asset management systems, is pleased to announce that Global Investment House (http://www.globalinv.net/) in Saudi Arabia started the implementation of Prospero (http://www.sage.ch/index.php?id=prospero) as its front- to back-office platform for its Investment Management arena. Global is a leading asset management and investment banking company in the GCC and MENA with offices across the Middle East. Global has successfully implemented some Prospero modules in its operations in Kuwait and decided this year to extend the use of Prospero in its office in Riyadh, Saudi Arabia. Global, in Saudi, manages and administers local funds and portfolios for High Net Worth clients in addition to offering its clients brokerage services in the Saudi Equity market.
Global's Chief Information Officer, Mr. Hakam Abu-Zarour, stated: Prospero is a good fit for Global as it offers one Front- to Back- Office platform. This reduces our maintenance costs and operational risk, while enhancing our productivity and efficiency to better services our clients.
This is Prospero's first implementation in Saudi and it affirms SAGE's presence and commitment in the MENA region. Mr. Tarek Hamdan, SAGE's Chief Marketing Officer, adds: There is a significant demand in Saudi for a sophisticated tool on asset management and Prospero clearly answers to this need-even more than what is required.
Mr. Patrick Rotzetter, Head of SAGE's Business Development, states that this success is an important milestone for SAGE. The Saudi market has seen a small slowdown in 2009, and is picking up this year. With this excellent reference, we will participate fully to the growth of the Saudi market. Global is a leading investment firm in the region, and we are delighted to extend the rollout of Prospero to other international locations of Global Investment House.
GLOBAL INVESTMENT HOUSE (http://www.globalinv.net) is a Kuwaiti investment company that has grown to become one of the leading asset management and investment banking companies in the GCC and the wider MENA regions.
Prospero is a product of SAGE (http://www.sage.ch), a software development company that specializes in servicing the global financial industry. SAGE is the reference in providing integrated, modular and innovative front- to back-office banking solutions. Its goal: Help financial professionals to focus on what they do best - managing money, not systems.
Contact: Tarek Hamdan, Chief Marketing Officer, +971-4-428-1385
SOURCE: Sage SA
CONTACT: Tarek Hamdan, Chief Marketing Officer, +971-4-428-1385