Napier Park Global Capital, the global alternative asset management firm with $6.7 billion in assets under management, completed its trading application infrastructure spinout from Citigroup. Instead of going it alone, the asset manager called in risk and trading solutions provider Sky Road to help with their tech migration.
The asset manager was staring down the barrel of the Volcker Rules 2014 deadline. According to a press statement, Napier Park chose Sky Road as the technology partner for both its domain expertise and end-to-end management of Napier Parks existing trading and operational system infrastructure, said the press release. Working with Napier Parks IT team, Sky Road was able to conduct knowledge transfer, transition the platform to Napier Parks independent data center and take over day to day operational support from the existing IT support team at Citi.
In light of the rapid delivery requirements, we knew we needed a partner with both the domain expertise and proven track record of managing and developing trading platforms end to end. Sky Road was a critical part of the project team that delivered ahead of schedule with zero disruption to our business processes, said Michael Williams, managing director and COO at Napier Park.
The Volcker Rule presents numerous challenges to institutions that must now transition complex fund operations and workflows into an independent environment in a greatly compressed timeframe. This becomes particularly challenging when considering the diversity and sophistication of firms trading strategies, said John Borse, founder and president of Sky Road. By offering a turn-key managed service solution that combines technology and operational support, we have a proven solution for institutions facing rapid transition demands, especially the provisional July 2014 Volcker Rule deadline.
Napier Park has more than 110 employees in offices in New York, London and Dubai.
