Swiss banking technology firm Avaloq Group has signed a partnership agreement with Citisoft, the global investment management systems consultancy, for UK implementations, following recent announcements of three new UK clients for the former in the last few months.

"The cooperation with a recognised company such as Citisoft really boosts our credibility within the UK market. Our partner programme has been very successful in Switzerland and in other parts of the world. With Citisoft we are now replicating this success in the UK market for the first time,” said Jose Manuel Carro, managing director of Avaloq UK.

Citisoft, which last month bolstered its management team in London with the hire of Steve Young as head of business development and Neil Craddock as the new chief operating officer for Europe, works with both the wealth management and institutional sectors.

“Having worked extensively with Avaloq and its UK team over the last few months, we are very excited to become the first UK implementation partner… We have already started training our consultants through the Avaloq Academy in Zurich,” said Jonathan Clark, group chief executive of Citisoft.