Vermeg Group

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Vermeg Group
Vermeg logo.jpg
Founded 1993
Headquarters The Netherlands
Key People Badreddine Ouali, Chairman, Pascal Leroy, Chief Executive Officer
Employees 700+
Products Banking, insurance and compliance software
Website https://www.vermeg.com

Vermeg Group is a publicly traded financial software firm with a focus on banking, insurance and compliance. The firm, established in 1993 with offices in France, Belgium, Luxembourg, Spain, the Netherlands and Tunisia, has more than 150 customers in 20 countries and more than 700 employees.[1]

History[edit]

Established in 1993 by founder Badreddine Ouali, the firm was originally part of BFI and spun off in 2002 and focused solely on the European market. It is known for providing IT services to financial services and insurance industries and as a partner in custody and asset management sectors as well in Europe. [2]

Vermeg has expanded organically and via acquisitions over the years. In September 2002, the firm acquired a division of Reuters France called Diagram, which supplied back office asset management software.[3]

In 2014, Vermeg bought the Belgium-based firm BSB, which specialized in financial software.[4]

The company took on an investor, Crédit Mutuel Arkéa, in January 2017, to help bolster its expansion plans. Crédit Mutuel Arkéa took a 19.5 percent stake in Vermeg.[5]

In February 2018, the firm announced the acquisition of Lombard Risk for £52.08 million, a risk management, regulatory reporting and collateral management software firm. Vermeg said the acquisition would help expand the company's footprint and product lines. Lombard Risk, which was also publicly traded, has access to markets in the UK, North America and Asia.[6][7]

Products and Services[edit]

Vermeg covers:

  • Pension & Insurance
  • Wealth & Asset Management
  • Financial Markets & Securities Services
  • Bespoke Solutions Development
  • Property & Casualty Insurance

The company offers an ecosystem of software products called Palmyra, which is designed to work with existing systems and technologies.

Megara by Vermeg is a modular Swift-certified technology covering post-trade processing.[8]

Key People[edit]

References[edit]