SimCorp, a leading provider of investment management solutions and services for the global financial services industry, has announced that BlueBay Asset Management, one of Europe's leading asset managers specializing in fixed income and alternative investment products, has selected SimCorp Dimension as its new investment management technology platform.
The firm, which is based in London and has over US$53.9 billion under management as at 30 June 2013 for institutions and high net worth individuals, will use SimCorp Dimension to support trade processing, including derivatives clearing, investment book of record (IBOR), fund valuation, investment accounting, collateral management and data management.
BlueBay Asset Management selected SimCorp Dimension as a single solution to support its activities across a number of fixed income based asset classes, following a competitive tender process.
The new technology infrastructure will automate processes, reduce costs and provide flexibility and support for the firm's next phase of growth. In addition, the integrated platform will help the asset manager meet regulatory requirements for increased and timely oversight of risk by replacing a number of legacy systems.
Commenting on the selection, Simon Lumsdon, Global Head of Technology at BlueBay Asset Management, said: "Since the launch of BlueBay Asset Management in 2001, and its subsequent acquisition by Royal Bank of Canada, our business has grown rapidly. To achieve our future ambitions we need a flexible and scalable technology platform which can grow with us, one that can support us in areas such as derivatives processing and collateral management, which is why we have chosen SimCorp Dimension. SimCorp's track record in successfully implementing technology solutions for asset managers was another important deciding factor."
Klaus Andersen, Managing Director at SimCorp Ltd. said: "We are delighted to be working with BlueBay Asset Management. An important factor in the firm's decision to work with us is our commitment to research and development and our semi-annual upgrade of SimCorp Dimension - which effectively provides all of our clients with a future proof investment management solution."