Franklin Resources, of San Mateo, CA, USA, has acquired Swissrisk’s 51% stake in Riva Financial Systems, creators of the Riva Transfer Agent software solution suite.
“We have long been searching for a transfer agency software solution that can support Franklin Templeton’s global reach and complexity across multiple jurisdictions,” says Ghassan Hakim, Sr. Vice President of Franklin Templeton Investor Services, who has assumed the role of CEO of Riva Financial Systems. “We believe the Riva TA system, already functionally rich in support of European cross-border funds, has the potential of becoming a true and unique global platform.”
David Ball, Riva’s Vice President of Sales and Marketing adds: “With advice from Barrington Partners, we have gained a significant partner in industry leader Franklin Templeton, which is uniquely positioned to propel our current offering into a truly global solution. We welcome the knowledge and experience that Ghassan Hakim brings as our new CEO.”