Originally appeared in MiFID Monitor
In keeping with the perception that risk has become a key focus for investment in the current environment, risk management solutions provider Reval has announced strong client growth over 2008. According to the vendor, it experienced a 50% increase in revenue and the addition of 75 new clients over last year.
Reval attributes this growth to its geographical coverage and regional focus, as well as the need in the market for solutions in the compliance, risk management and valuations space. Jiro Okochi, CEO and co-founder of Reval, explains why he thinks the vendor has experienced robust growth: “Reval’s best of breed solutions, expertise and global footprint have been instrumental in its success. In today’s volatile environment, companies cannot afford to take risks, and Reval’s proven track record provides the reassurance companies need when addressing challenges in hedge accounting and risk management.”
The firm saw client growth across all regions in 2008, with its North America contract value growing by 130%, EMEA by 167% and Asia Pacific by 227%. Reval also added clients from markets that it had previously not had a client presence including France, Singapore and Korea. In order to support its growth, it also increased its workforce across North America, EMEA and Asia Pacific by 80% last year.