Consulting and investment company Firm Economics has formed CubeLogic, a firm that combines a major offshore development centre in Brazil with a team of risk specialists.

Firm Economics is owned by industry veteran David Priestley, founder of Raft International, and Terry Boyland, a former J.P Morgan global business manager.

The new company will be chaired by Priestley. He will be joined by chief technology officer Lee Campbell, Riyaz Mulla who will manage the offshore services operations in India and Brazil, and Romil Shah leading business consulting services.

Priestley says: "Lee, Riyaz and Romil were part of the management team at Raft International, and together provide a wealth of experience in the risk analysis arena. It is our view that few companies have the appetite for major new projects in the current climate. CubeLogic will combine highly trained onshore and offshore resources and some new technologies to deliver incremental improvements in our clients risk reporting."

RiskCube, a multi-dimensional exposure analysis tool, will enable portfolios to be sliced and diced with complete flexibility.

CubeLogic will also offer programme management using traditional Waterfall and Agile methodologies; system configuration; interface design and implementation; third party risk engine integration;business process engineering; and migration to new versions of risk systems.

CubeLogic operates from offices in India, Brazil and London and plans to open a US operation in the New Year.