According to the company, the new office will aim at providing the range of its investment management solutions of IMSplus and banking solutions with FMS.

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Profile said that it will staff the new office with experienced and motivated professionals to effectively respond to the emerging investment and banking industry opportunities.

The company claims that its solutions, IMSplus, the investment management platform which accommodates the requirements of private wealth, asset and fund management, custody, and FMS which covers the full spectrum of core banking, leasing and financing as well as islamic banking, are flexible, scalable and totally customizable.

"The fully modular and STP solutions can be seamlessly integrated to any IT environment, always in line with each client’s needs. PROFILE Mobility, is the company’s latest innovative development in its product offering which enables complete management of all types of portfolios including real time valuation and performance for both the professional and individual investor," the company said in its statement.

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Babis Stasinopoulos, CEO of Profile, said: "Our local presence will effectively address our clients’ and partners’ needs for comprehensive and reliable solutions with the personal approach sought after."

"Our leading financial services systems, IMSplus and FMS, deliver a high standard of sophistication to meet specific regulatory and country requirements. The systems are flexible enough to fully meet the expectations of the demanding Investment Management and Banking community for next generation software solutions offering real value for money and exceptional customer service to their demanding clientele," Stasinopoulos added.