Algorithmics wins Wholesale & Capital Markets Award for Risk Management in The Banker Technology Awards 2008 for its work with Intesa Sanpaolo

Toronto/ New York/London - June 5, 2008 -

Algorithmics is proud to announce that it has won the Wholesale and Capital Markets Award for Risk Management in The Banker Technology Awards 2008 for its work with Intesa Sanpaolo. Algorithmics developed a stochastic pricing model for Intesa Sanpaolo that incorporates equity-linked retail products into the bank's enterprise risk framework.

Michael Zerbs, President and COO, Algorithmics, commented: "Algorithmics is honoured to win the Wholesale and Capital Markets Award for Risk Management in The Banker Technology Awards 2008. Our work with Intesa SanPaolo has enabled the bank to bring complex structured products to the market very rapidly while still controlling their risk - an innovation that helps the bank maintain their leading position in the structured products market with a cost effective, high performance infrastructure."

Mauro Maccarinelli, Head of Market Risk and Financial Evaluation at Intesa Sanpaolo, said: "This award is testimony to the innovative risk management used at Intesa Sanpaolo and to the strength of our long term relationship with Algorithmics, with whom we have been partnering for more than a decade."

Paulo Sironi, Head of Counterparty Credit Risk and Innovative Solutions at Intesa Sanpaolo, added: "The team has delivered an innovative approach to risk management which has allowed us to achieve real business advantage. The award is great recognition of a project that overcame some formidable technological, regulatory and timing challenges."

For further information please contact:
Heather Smith, Senior Communications Manager, Algorithmics (UK) Ltd
Direct line +44 (0) 20 7392 5820 Mobile +44 (0) 7515 974223
E-mail Heather.smith@algorithmics.com

Notes to Editors:

The Banker
Established in 1926, The Banker is the premier magazine and acknowledged journal of record for the world's investment, retail and commercial banking sectors. Published on a monthly basis, and distributed to around 30,000 individuals globally, the magazine offers an unrivalled combination of authoritative news, features, surveys and heavyweight interviews. With regular software and technology updates, new product innovations, country profiles, definitive bank listings and expert market commentary from leading industry figures, The Banker is essential reading for key decision makers across the banking and corporate sectors.

The Banker Technology Awards 2008
Now in their sixth year, The Banker Technology Awards seek to identify and celebrate excellence and innovation in all areas of banking technology. Presided over by a panel of respected industry experts, including practitioners and analysts, the Awards provide an invaluable insight into the tireless work of banking IT departments and technology providers globally, and serve as a vital benchmark for IT services, products, and projects, in the financial services industry at large. This year, the Awards have been divided into three distinct categories:

  • Retail
  • Wholesale & Capital Markets
  • Overall Winners

Intesa Sanpaolo is the leading banking group in Italy, with 6,566 branches serving about 11.5 million customers. Intesa Sanpaolo is a banking group resulting from the merger between Banca Intesa and Sanpaolo IMI. It has leadership in the Italian market and a strong international presence focused on Central-Eastern Europe and the Mediterranean basin. Intesa Sanpaolo intends to become a benchmark for the creation of value in the European banking sector.

The Group brings together two major Italian banks with shared values and improves their opportunities for growth as well as enabling enhanced service for retail customers, significant support for development of business customers and an important contribution to growth in all the countries where it operates. www.intesasanpaolo.com

Algorithmics is the world's leading provider of enterprise risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. www.algorithmics.com

Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings' global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.

The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions.

The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com www.algorithmics.com and www.fimalac.com

© 2008 Algorithmics Software LLC. All rights reserved. ALGO, ALGORITHMICS, Ai & design, ALGORITHMICS & Ai & design, KNOW YOUR RISK, MARK-TO-FUTURE, RISKWATCH, ALGO ALM, ALGO COLLATERAL, ALGO CREDIT ADMINISTRATOR, ALGO CREDIT DATA SERVICES, ALGO CREDIT ECONOMIC CAPITAL, ALGO CREDIT EXPOSURE, ALGO CREDIT LIMITS, ALGO CREDIT REGULATORY CAPITAL, ALGO CREDITVANTAGE, ALGO ETREASURY CREDIT, ALGO FIRST, ALGO MARKET ANALYTICS, ALGO OPDATA, ALGO OPVAR, ALGO RECONCILIATION, ALGO RISK, ALGO RISK SERVICE, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.