Press Releases

AIB Selects Asset Control’s Turnkey Risk Solution to Centralize Pricing and Curves

London, June 5, 2006

Asset Control, a leading provider of Centralized Data Management (CDM) solutions to the financial industry, today announced that Allied Irish Banks PLC Group’s Global Treasury Division has selected Asset Control to centralize pricing data and curves for risk management. Asset Control delivered a turnkey solution within five weeks. The solution passed an initial user acceptance test, and now serves as the platform on which further customizations can be made by AIB, supported by Asset Control. AIB expect to be in production with the full solution by September 2006.

The Turnkey Risk Solution will interface with internal and external data sources and will manage foreign exchange, fixed income and derivatives data for AIB. In addition the AC Contour risk management system will provide managers and analysts the ability to create risk factors by converting data into curves, surfaces, volatilities and covariance matrices for the thorough analysis needed in risk management, portfolio evaluation and pricing. With a centralized database in Dublin, AIB users in New York, Poland and London will access the solution via the AC Desktop.

“Many institutions have multiple databases and a mix of systems which need to be centralized in order to achieve a more auditable, controlled environment,” observes Ger Rosenkamp, CEO of Asset Control. “With AIB’s fast implementation we demonstrated how we could centralize their data management without the uncertainty that typically comes with complex risk management solutions.  We are pleased to welcome AIB as a valued new customer of our turnkey initiative.”

About Asset Control
Asset Control is the world’s leading provider of Centralized Data Management (CDM) to financial industry firms.  With a complete range of in-house and outsourced options, Asset Control delivers Total Data Management (TDM), a hybrid approach to data management.  The selection of developer tools, turnkey software solutions and outsourced services enable users to optimize their investment data for efficiency, cost control, reduced operational risk and increased value from their data.
 
Derived from the robust and reliable AC Plus modular framework, the Asset Control product set includes data solutions addressing market risk, counterparty credit risk, security master, research and corporate actions, as well as global data networking and administration. Handling data from vendors and in-house systems, these solutions collect, validate, normalize, and consolidate data into cleansed composite “golden copy” sets for business use.

Customers include Abbey National, ABN AMRO, Allied Irish Banks PLC, Barclays Capital, Barclays Global Investors, Bayerische Landesbank , BBVA, Commerzbank, IBM (Dresdner Bank), Grupo Santander, Harvard Management Company, HSH Nordbank, HypoVereinsbank, ING, LCH.Clearnet, Robeco Groep, Société Générale, Standard Bank, Standard Chartered, Union Investment and Wachovia Corporation as well as a super-major global energy group. Established in 1991, Asset Control is a privately held firm with operations in London, New York and the Netherlands. For more information please visit www.asset-control.com.

About AIB Global Treasury
AIB Global Treasury is a division of AIB Capital Markets, part of Allied Irish Banks PLC, with operations in Dublin, London, Manchester, New York and Poland. It offers a centralized treasury service for the AIB Group.  AIB Global Treasury consists of Wholesale Treasury, Global Treasury Services, Business Support Services, Credit Legal and Bank Relations, and Treasury Risk Analysis and Control. For more information visit www.aibcm.com.