Innovation & Job News

RiskMetrics adds jobs in Ann Arbor during acquisition

Wednesday, April 28, 2010

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Ann Arbor

RiskMetrics Group continues to hire people for its Ann Arbor office even though the New York-based firm is in the midst of being acquired.

MSCI is acquiring RiskMetrics for $1.55 billion in a cash-and-stock deal. That corporate event hasn't stopped the RiskMetrics from hiring in Ann Arbor. It has hired two new people since we checked in last spring, growing its staff to 20 people and one intern. It expects to hire another person and bring on up to another four interns later this year. Any growth beyond that is unclear at this point.

"It is currently unclear what the effect, if any, of this will be for the Ann Arbor office," Paul Schmitter, manager of the Ann Arbor office for RiskMetrics, wrote in an email.

RiskMetrics creates software that determines and tests financial risk. Often this means it runs simulations on investment portfolios. The Ann Arbor office creates much of that software.

RiskMetrics, which employs 1,200 people around the world, opened its Ann Arbor office a decade ago with six people. It has since moved into new office space on North Main Street, signing a six-year lease with local developer Peter Allen for about half the space in his Limestone building overlooking Argo Pond.

Source: Paul Schmitter, manager of the Ann Arbor office for RiskMetrics
Writer: Jon Zemke