South Africa's Stanlib Asset and Wealth Management (Stanlib) has installed technology from UK-based Investment management software vendor DST International (DSTi) to consolidate its front and back office operations.
Stanlib was formed by the merger of SCMB Asset Management and Liberty Asset Management and is jointly owned by the Standard Bank and Liberty Group.
The firm merged DSTi's front office system HiInvest - previously SCMB's front office solution - with back office solution HiPortfolio/2, which was used at Liberty Asset Management.
DSTi says the combined solutions ensure that all instruments in the client portfolios are handled by the system in a uniform process. The system still allows the business to hook into data feeds such as those from Reuters and Bloomberg, as well as with various banking systems and custodians for settlements.
Marisa Bellini, general manager, DSTi South Africa, says: "Following the successful merging of HiInvest and HiPortfolio/2 at Stanlib, the organisation has committed to using HiPortfolio/3 as it is rolled out in stages during the course of the year."
André du Plessis, Stanlib's chief information officer, adds: "The DSTi software employed in our organisation and the integration and project skills of DSTi personnel accommodated the merging of two large institutions."