SimCorp, a leading provider of investment management solutions and services to the global financial services industry, today announced that it is merging its Northern Europe and UK (covering UK, Ireland and Middle East) market units.
The move is designed to address the changing requirements of the asset management industry, deliver enhanced scale and leverage expertise across units, to service SimCorp’s rapidly growing global client base. The move comes at a time when the buy side increasingly recognizes technology and infrastructure as integral to limiting costs, increasing profitability and improving client value.
The newly merged UK and Northern Europe market unit will be headed by Hans Otto Engkilde, the current MD of SimCorp Northern Europe. Hans Otto joined SimCorp as MD for SimCorp Benelux in 2003, before taking on his current role. He will spearhead best practice throughout the newly merged market unit, with a particular focus on growing SimCorp’s investment management specialisms, from the front office, through to alternatives, data services and client reporting, across its teams in the UK (Ireland, Middle East) Benelux and Nordics.
Following an earlier merger of Benelux and the Nordics into the Northern Europe market unit in January 2017, SimCorp has seen several efficiencies from establishing stronger, larger units, particularly in dealing with global deals and growing the breadth of services it offers, among existing clients. SimCorp’s flagship solution, SimCorp Dimension, manages around 20 trillion in global assets, with over 180 clients worldwide.
Hans Otto Engkilde, Managing Director, of Northern Europe comments: “I’m pleased to be leading such a significant collaboration and to working more closely with the teams in the UK, who between them have a great deal of talent and experience. The combination of the UK market, where we still have a large potential for attracting new clients, and the expertise from the mature Northern Europe market unit, will give SimCorp a significant competitive advantage, enabling us to optimize our operations with a larger local footprint and swifter project implementations.”
Jochen Müller, EVP, Head of SimCorp EMEA & Asia Pacific comments: “The merging of the UK and Northern Europe market units is particularly important, at a time when the global buy side increasingly looks to vendor expertise to address market complexities. Operating out of a larger unit will enable us to provide an even better service to existing clients, as well attracting new clientele in the UK, Ireland and Middle East. Our commitment to the UK market and our office in London, with more than 150 employees, is foremost and remains unchanged.”