Markit, a leading, global financial information services company, today announced that Aegon Asset Management will roll out Markit's Enterprise Data Management (EDM) platform (formerly Cadis) across its operations, globally. Aegon Asset Management, which has €250 billion in assets under management, will deploy Markit EDM to support data management processes across multiple business units.
"We've been a Markit EDM customer for over seven years via Kames Capital in the UK," said Keith Rake, global COO, Aegon Asset Management. "The value already being delivered to the UK unit from its implementation convinced our US and Dutch operations that it was the best choice for our long-term global data management strategy. We are confident in Markit's ability to deliver a solution that will help us meet our global data management needs."
"One of the key trends we're seeing with buy-side firms at the moment is the push to create a centralised data hub in order to gain a consistent view of data across the organisation," said Daniel Simpson, managing director and head of Markit EDM. "Aegon Asset Management is operating in four different regions, each with its own data management challenges. We're looking forward to expanding our relationship with Aegon Asset Management and enabling them to take a best practice approach to streamline their operations, take control of their data and reduce costs."
Aegon Asset Management became a Markit EDM customer in 2005 when Kames Capital, previously Aegon Asset Management UK, implemented the platform to take control of its data management operations. Markit EDM also acts as the firm's Investment Book of Record (IBOR) and historical database for reporting. Markit EDM's central data hub will be deployed in Aegon USA Investment Management (US), Aegon Asset Management (Netherlands) and TKP Investments (Netherlands).