The new business is a joint venture between Tony Ward and Simon Collingridge of London-based Home Funding Limited and Jaap van Raak and Michel van der Sluis of The Dutch Mortgage Consultants BV.
Based in Utrecht in the Netherlands and London, Fortrum will provide due diligence, risk analytics, specialised underwriting, surveillance and workforce solutions for financial assets across the whole of Europe.
Commenting on the launch, Tony Ward, said: “Global investors are increasingly focusing on the dynamic and growing Dutch mortgage market and European securitisation markets show further signs of re-emergence. With continuing pressure from regulators, governments and markets on Banks across Europe to address the scale of non-performing loan exposures, and as the requirements of IFRS9 loom ever larger there is a clear opportunity for a new type of player in the due diligence and risk arena. The Netherlands is an ideal location for our new venture.”
“Fortrum is our solution and we are delighted to join Jaap and Michel in this venture” said Simon Collingridge. “Our collective experience and expertise in UK and Dutch markets, securitisation and risk analysis are unparalleled in this field. Combined with the risk solutions provided through regulated entity Home Funding, our association with insurance specialists Lime Risk Agency and the effective workforce and systems solutions of our colleagues in the Netherlands we believe the breadth of our services are uniquely placed to meet the needs and goals of our clients.”
Jaap van Raak from TDMC who will become the managing director of the new company commented: “As northern Europe continues to recover from the effects of the global financial crisis and in a post-Brexit world, the Netherlands is a key country for investors and is an exciting place in which to base our joint venture. Michel van der Sluis and I are excited to team up with Tony Ward and Simon Collingridge to set a new standard in the risk, audit and due diligence sector across Europe.”