Bangkok, Thailand – Alchemy Associates / Alchemy Technologies announced today that it has agreed to work with Wealth Management Systems Limited (Thailand). This joint venture will be based on Basel II and Risk Management engagements with client institutions in Thailand, Pakistan and the Middle East.

Wealth Management System Limited (WMSL) is a leading CMM level 2 financial software company, with their headquarters in Bangkok. They provide solutions to financial institutions in asset, treasury and risk management. WMSL holds more than 40 percent of the market share in the financial applications sector in Thailand. Customers include commercial banks, finance and securities companies, mutual funds companies, assurance & insurance companies, investment companies, financial departments of public companies, regulators etc. The company has won numerous awards and recognitions for its quality products and services.

Jawwad Farid, Chief Executive of Alchemy Associates on the subject said, “We have been evaluating different markets in the region for the last two years. At the end it came down to partners and we agreed to join hands with Wealth Management System Limited because of the depth of their expertise and market credibility. We hope that this partnership will be the start of a long and fruitful relationship”

Alchemy is a boutique risk management firm with customers in Pakistan, Middle East and Thailand that has been growing at more than 100% a year, year on year for the last four years. The company’s flagship product, the “Alchemy Risk Manager” has won multiple industry awards and has been successfully implemented at multiple client sites including banks and insurance companies.