SimCorp, a leading provider of Investment management solutions and services for the global financial services industry, today announced that Notenstein Private Bank, which has assets under management of CHF 20bn, has selected SimCorp Dimension as its new software solution for front and middle office operations.
Notenstein Private Bank, which is a subsidiary of Raiffeisen Schweiz, aspires to be among the top three private banks in Switzerland. To expand its institutional business, the banking house has decided to enrich its current system environment with SimCorp Dimension's state-of-the-art solution.
"Our decision was the result of a comprehensive selection process involving both Swiss and global solution vendors. This process included on-site due diligence at other asset managers," explains Andreas Knörzer, Head of Asset Management at Notenstein Private Bank. "By choosing SimCorp Dimension we have set the foundation for the planned growth and expansion of our client services."
"The increasing demands and growing competition in the asset management industry dramatically increases the need for a powerful front office solution," adds Frank Häusgen, Senior Sales and Account Manager at SimCorp, who is responsible for new business development in Switzerland. "SimCorp Dimension is a robust solution that combines portfolio management capabilities including trading and compliance with performance and risk measurement - it seamlessly integrates front to back office processing on a single platform. Additionally the flexibility of our solution allows specific setups for various sizes of institution and gives our clients confidence in a future-proof solution that keeps pace with regulatory changes."