Company success and customers


The company has been hugely successful and has neither hit the turmoil that has inflicted so many other suppliers nor shown signs of becoming over-stretched, despite the fact that it is mostly self-sufficient in terms of delivery. In 1995 it had revenues equivalent to around €10 million; for the year- ended 31st December 2012, they stood at €209.2 million. Its headcount has remained fairly static for a few years, at around 1100, with nearly one third of those on the product development side. Simcorp’s success in a few areas means there is limited scope for further inroads but it has been broadening its geographical reach and shows no signs of a slow-down, even in the tough market conditions. Wins in 2009 included at American Century Investments, Simcorp’s twelfth North American customer, and Edmond de Rothschild Asset Management in France. A front-to-back office taker in 2012 was rather unusual, Eurofima, the European organisation for financing railroad rolling stock, which had more than €30 billion under assets. It took Dimension for transaction entry, online valuation, processing, compliance, settlement, collateral management and IFRS reporting. More standard was UK asset manager, Marathon Asset Management, which cut over during the year to replace a range of platforms, including HiPortfolio. Reduced cost of ownership was key and it consolidated processes across trade processing, fund accounting and reporting for both long-only and hedge fund portfolios. Nordea Investment Management went live in the first half of 2013 with a new component of Simcorp’s Order Manager solution, providing broker strategy functionality to an initial ten brokers.


Simcorp claimed five new deals for the first half of 2013. One of which was Lord Abbet, a US-based investment management firm with over $130 billion in assets under management, signing for Dimension in Q2 to cover its centralised position- keeping, investment accounting, performance measurement, corporate actions and reconciliation. Bluebay Asset Management, a UK-based investment management firm, also kicked off a Simcorp project in H1 2013, with a 15-month timeframe. The design phase was completed by the end of 2013, followed by a six to seven-month configuration phase and UAT prior to go-live. Dimension is being integrated into some of the existing IT infrastructure at Bluebay, including a system from Charles River for trade order management as well as other applications for performance and risk management. Its full functional scope covers trade processing, derivatives handling, investment and accounting book of records, fund valuations, collateral management and data management.


In late 2013, Eagle Asset Management went live with


Dimension. The Florida-based institution, with $30 billion in assets under management, offers equity and fixed income managed accounts and mutual funds, and cut over to Dimension for its middle and back office processing. It selected the system in early 2012 and originally hoped to be live the same year. 2013 also yielded a noticeable go-live in Canada, at Alberta Investment Management Corporation


654


(AIMCo), which completed its multi-year project to implement Dimension to support its back office. The project commenced in 2008 and it was won against Simcorp’s main local rival, Eagle Investment Systems. In February 2014 came the news that Simcorp acquired Equipos, a London-based developer of reporting software, for €10 million. The two companies struck a partnership agreement almost ten years ago, which brought the Coric Client Communications Suite into the Simcorp portfolio, marketed and sold as Simcorp Dimension Report Book Manager. Lars Bjørn Falkenberg, SVP of Simcorp, said that the acquisition should help Simcorp grow its share in the global reporting market, with Coric offered on a standalone basis as well as a fully integrated version with Simcorp Dimension. A few months later, Fédéris Gestion d’Actifs, an asset management firm in Paris with €26 billion in assets under management, started


its Dimension implementation to


replace a combination of technology from different providers and in-house developed solutions. Anne Courrier, the firm’s MD, said everything would be implemented and all portfolios would be switched to Dimension by June 2015, except for risk and performance analytics, which was set to be completed by the beginning of 2016. Dimension’s coverage at Fédéris Gestion d’Actifs was to span all front and middle office activities, including pre- and post-trade compliance, investment book of record (IBOR), net asset value (NAV) control, collateral management, performance measurement and risk management. M&G’s IBOR will also be based on proven, award-winning IBOR functionality in SimCorp’s investment management solution, SimCorp Dimension. It will enable M&G to simplify its system architecture and provide greater flexibility to support new products and exploit growth opportunities. UBS Global Asset Management has decided to replace its legacy technology platform with Simcorp Dimension, provided by Denmark-based specialist vendor, Simcorp. The project covers portfolio accounting, derivatives processing, regulatory and client


reporting, and associated asset


management functionality. UBS Global Asset Management, offers a broad range of investment solutions, including equity, fixed income, currency, hedge fund, real estate, infrastructure and private equity. London-based global fixed income specialist, Bluebay


Asset Management, went live on Simcorp Dimension. The new investment management platform is supplied by specialist vendor Simcorp and supports middle and back office operations of Bluebay. The deal was struck in early 2013 and the project kicked off not long after. The new platform has replaced Sungard’s InvestOne. The old set-up was not automated, struggled to keep up with transaction volumes and was dependent on satellite applications accumulated by Bluebay. WHO? BNP Paribas Securities Services. BNP Paribas Securities Services is implementing Simcorp Dimension for its accounting operations. Denmark-based specialist vendor Simcorp says it was selected after a rigorous evaluation process. BNP Paribas Securities Services has a local presence in 34 countries across five continents. SimCorp had a couple of notable wins in 2016.


Back Office Systems & Suppliers (BOSS) | www.ibsintelligence.com


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