The firm will be using EDM to master securities and issuers and will also leverage the solution as a data hub for prices, accounts and other entities in the future.

“Following an internal data and operations review, we decided that it was the right time to invest in an enterprise data management solution,” said Evan Fire, Chief Information & Operations Officer and Chief Information Security Officer at Pzena Investment Management. “We conducted a review of several EDM providers before selecting IHS Markit due to their ability to meet all of our unique needs and their established presence in the North American market.”

EDM will validate data from Pzena Investment Management’s multiple data providers before distributing it to the firm’s proprietary research platform, as well as its OMS, accounting and warehouse solutions. EDM will help the asset manager create a single version of the truth and will provide a transparent audit trail for all data assets.

“We believe that data is a core asset to the business and implementing an EDM solution such as the one we selected from IHS Markit will help solidify a foundation for future automation and increased operational efficiency,” further commented Mr. Fire.

“Establishing a strategic approach to data management will support Pzena Investment Management’s future growth,” said Spiros Giannaros, global head of EDM and thinkFolio at IHS Markit. “EDM provides the firm with greater control and transparency of its data, as well as helping to reduce operational risk by enabling Pzena Investment Management to validate and reconcile data across multiple sources.”