Numerix has opened a new regional office in Dubai as a satellite of the EMEA group, which is based in London. The office will be managed by Neil Orchard, vice president, who is responsible for the region.
The opening of the office in Dubai is to provide permanent local support for the vendor’s clientele. “While the local derivatives markets in the Middle East and Africa are still in its nascent stage, it is evident that the use of sophisticated financial products in local economies and on the global stage will be prominent in the profile of financial institutions across the region. Given the expansion of the markets, and the expansion of our client base, having local quantitative support for our clientele is critical as we assist institutions in developing the best practices necessary in this market,” says Orchard.