As a result of continuous growth of its business, SimCorp has moved to new premises in Wood Street in the City of London.
This is the third new and expanded office that the company has moved into since it first launched its investment management system, SimCorp Dimension, in the UK in 1999. The company moved into Walbrook in 2001 and then took additional space in Cannon Street four years later.
"SimCorp Dimension has been growing market share steadily and effectively," says Lee Wright, managing director of SimCorp in the UK. "That is only happening because our product proposition is gaining traction in the market and it demonstrates that SimCorp Dimension is an increasingly attractive solution."
Introduction of SimCorp Dimension provided investment management institutions with a new form of straight through processing: enterprise-wide seamless processing based on a core database. It is a comprehensive system supporting the requirements of front, middle and back-office business functions, which combines broad instrument coverage with consistency of design and operation. As data need be captured only once into the system, many time consuming tasks such as internal data reconciliation and correction may be simply eliminated.
"It has proved to be a concept that works and our success in the market confirms that," comments Wright.
The new office will accommodate up to 90 staff. It is in the sophisticated, modern building, designed by Sir Norman Foster, which overlooks the garden of St Mary Staining. It is almost twice the size of SimCorp's previous total London accommodation and includes five meeting rooms, one of which is a dedicated training room.