Another arrow added to Swift's quiver

The Society for Worldwide Interbank Financial Telecommunications Swift is in the process of acquiring SunGard’s Ambit Messaging Hub AMH. Lázaro Campos, chief executive of Swift, said the acquisition, which he described as a “combination of strategic intent and opportunity”, is scheduled to be finalised at about the same time as Swift’s annual Sibos conference, which will be held in the Dutch capital of Amsterdam this year.

A new Swift subsidiary will be established in the cities of Mechelen in Belgium, Frankfurt in Germany and Zurich in Switzerland. SunGard’s AMH product line management and staff will transfer to the new subsidiary led by Hans Cobben, global payments and messaging solutions...