SunGard is establishing an enterprise data management unit that will be headed by Dale Richards, formerly chief executive officer of reference data business, Fame Information Services, which the vendor acquired in January.
The move follows a reorganisation that merged Fame Information Services's product with SunGard's existing market data services. The combined operating group, renamed SunGard Data Management Solutions, offers data management systems, value-added data services and content as well as real time delivery infrastructure for reference, market and historical data.
The new enterprise data management division will address the demand for enterprise-wide solutions within financial services and energy institutions.
The business will focus on scoping, developing and implementing SunGard's data management strategy, which includes managing reference data for the vendor's business units as well as its customers.
Richards says regulatory controls and operational risk associated with poor quality data have highlighted deficiencies in the manner that reference, market and historical data have been managed.
"Attacking the problem from a silo approach has proven difficult for many institutions, as reference data demands a high level of manual intervention to reconcile and ensure integrity across business units."