By C. E. Huggins,Guardian Senior Writer

NASSAU, The Bahamas: - International Private Banking Systems (IPBS) continues to hold its own - and then some - in the private banking sector.

From a small home-grown Bahamian company providing specialist wealth management software to the local private banking sector, IPBS has moved into regional markets and now, with its latest affiliation, has strengthened its position in the U.S., its biggest market.

The company announced over the weekend that it had teamed up with ATEXIS Consulting Group to support its Caribbean and North American growth. Bruce Raine, Founder and Managing Director, stated that the partnership was in line with IPBS' long-term strategy of market credibility.

"The team at ATEXIS are ideal partners for IPBS and have the level of credibility that is vital in our business," he stated in a press release put out by his agency, Rivercalm.

According to the release, ATEXIS offers "evaluation and implementation of wealth management software and systems" for its clients. Its client-base is small to medium-sized financial institutions and non-profit organisations.

The release stated that Brett Steward had started ATEXIS in 2004 "following a product development career with Lynx Software Systems, a U.S. subsidiary of Lynx Wealth Management Systems, who were recently acquired by Microgen plc, a UK company founded in 1974.

Lynx, a 20-year veteran of providing trust fund and private banking systems, was acquired in June 2005. Since 1999 Microgen has grown primarily through strategic acquisitions. It has purchased nine companies, including Lynx the latest acquired in July 2005.

Acknowledging the importance of strategic partnerships to ATEXIS' continued growth, Mr Steward said "selecting the right partner is a very key decision in terms of our continued success." He added that ATEXIS was pleased to be teaming up with IPBS, and underscored IPBS' position in the market.

"IPBS is a highly respected company in the wealth management and private banking sector, offering proven solutions based on .NET technology," he said, adding, "We are pleased to be working with the IPBS team."

Mr Raine, who is away on vacation, stated that not only would the partnership enhance IPBS's value but, equally importantly, "the combination of skills and expertise will offer our clients tangible benefits."