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Lombard Risk Management banks £8mln for expansion

Published: 12:30 11 Aug 2016 BST

Bank regulatory software firm Lombard Risk Management plc (LON:LRM) has raised £8mln in a placing to rev up expansion plans.
Lombard, which looks after banks' regulatory reporting requirements and also has a collateral management arm, plans to use the cash to speed up investment in the businesses.
Chief executive Alastair Brown said: "Banks are making big investments and big commitments now.
"There's been huge changes in the whole banking environment since the financial crisis and we feel very well-placed to capitalise on that."
Lombard also plans to open a software development centre in Birmingham by Christmas to complement its existing centre in Shanghai.

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