SimCorp, a leading provider of highly specialised software and expertise for the investment industry, today announced that BMO Global Asset Management has selected SimCorp Dimension, an integrated software solution that supports the entire investment management process.
With assets under management of $90 billion, BMO Global Asset Management is a multi-asset management business operating within BMO Financial Group. SimCorp Dimension will support BMO Global Asset Management's operations in Toronto, Chicago and Milwaukee.
"We're investing in a system that will help us better serve our clients and support new product initiatives," comments Denis Bisson, Vice President of Business Services at BMO Global Asset Management, in Toronto. "We are very excited to have chosen SimCorp as a partner to help us meet our servicing goals of today and for years to come."
After a comprehensive evaluation of investment management platforms, BMO Global Asset Management selected SimCorp Dimension.
SimCorp will deliver tangible business benefits, including:
• Support for new product introduction with an enterprise-grade solution that can model new instruments quickly
• Increased cost and operational efficiency
• Automation of manual processes
• Increased visibility into performance and risk exposure across three lines of business
"We are very excited that SimCorp Dimension will help us drive better cost and operational efficiencies," comments Todd Healy, Vice President, Director of Investment Operations at BMO Global Asset Management in Milwaukee/Chicago. "With SimCorp Dimension, multiple BMO Global Asset Management entities will be able to share reference data and infrastructure support costs but at the same time segregate client data between the different lines of business."
"BMO Global Asset Management is a forward-thinking organisation that understands that solid technology is a critical part of the equation in the search for alpha," states David Kubersky, Managing Director for SimCorp North America. "We are delighted to welcome BMO Global Asset Management to our growing community of clients in North America."
BMO Global Asset Management includes certain indirectly, wholly-owned subsidiaries of Bank of Montreal, Canada's fourth largest bank.