Prometeia, an Italian software provider for the banking world, has launched its Swiss expansion with the help of a former Avaloq executive.
Prometeia hired Carmine Cammarota to head its expansion in Switzerland as senior manager, the company told finews.com on Wednesday. Cammarota has more than 25 years of experience in banking IT.
After taking his degree in IT from ETH Zurich, Cammarota was involved in several projects with Swiss banks, before taking on a management position with Bloomberg in Switzerland. He also worked in the executive committee of B-Source, a company that later was acquired by Avaloq. Over the course of his recent, 11-year-long activities in outsourcing for banks, he gleaned an inside view of the Swiss financial market.
Digitization and Data Analysis
The opening of a branch in Zurich underlines the plans that Prometeia harbors for the Swiss market and later also for Germany. The firm specializes in making the front office more digital and in the data analysis for wealth management. The team in Switzerland comprises both experts and consultants who have a strong understanding of Switzerland’s market, its needs and the regulatory environment, including Fidleg.
Prometeia was founded in 1974 by professors at University of Bologna, Europe’s oldest university institute. The company, which originally focused on forecasts and research, quickly broadened its reach to include solutions for risk management, financial advice, analysis and data provision.
International Reach
The company today has 900 experts under contract and advises more than 300 financials across 20 countries through a network of branches in Europe, Africa and the Middle East. Prometeia has operative businesses in Milan, Rome, London, Istanbul, Moscow and Cairo as well as Zurich.
The most prominent of its co-founders is Angelo Tantazzi, now chairman of the firm. He used to run the Italian stock exchange and was vice-president of the London Stock Exchange between 2007 and 2010. For more than two decades, he worked as professor for economic policy at University of Bologna and advised the Italian government, sitting in several key commissions.
