Scor Global Investments (SGI), the investment management company of the Scor Group, a global reinsurance company headquartered in Paris, has selected Cadis to implement its data management strategy. Scor's investment portfolio amounted to EUR 12.1 billion in June 2011.
Cadis will be taking in data from multiple sources including Bloomberg, Interactive Data and EFA-European Fund Administration. Once cleansed and validated, different data types including securities, issuers, prices, curves and index masters will be stored in the required formats. Data is then distributed to SCOR's core applications including Simcorp Dimension investment management system. With the Cadis platform, SCOR has full transparency, control and auditability of the entire data chain including the actual raw data.
Commenting on the company's need for a data management strategy, Yves Scherrer, project manager at SGI said, "Since becoming the central asset management hub for the SCOR Group's investment portfolio, SGI has experienced rapid and continuous growth in assets under management. We therefore required a data management platform with the ability to support and adapt to constant change. Improving operational efficiency, auditability and transparency of data were additional drivers. The Cadis platform provided us with the appropriate flexibility and functionality for our needs. Cadis' 100% successful implementation record was another key factor in our decision making process."
Franck Willaime, managing director, Continental Europe at Cadis said, "SGI represents Cadis' second French client win in the past 18 months and is among the 10 new clients we have signed globally in the past 6 months, demonstrating our increasingly dominant presence in this market. We are proud to be working with such a well-regarded global organisation that places great importance on guaranteeing high quality data for the efficient execution of its operations. "