SimCorp Acquires 100% of Equipos
SimCorp, a vendor of investment and portfolio management software and services, will fully acquire reporting software vendor Equipos for $13.9 million (£8.3 million) as SimCorp expects total ownership will encourage existing clients to adopt Equipos’ solutions.
SimCorp, which already owns 20% of Equipos, will be purchasing the remaining 80% of the shares in the vendor, officials say. SimCorp will complete the acquisition by March 1, 2014. The founders and key employees of Equipos will stay on as part of this latest agreement, SimCorp officials add.
Based in the UK, Equipos is an international supplier of specialist document management, business process management, and client reporting solutions for investment and wealth management firms, officials say. The company’s flagship product is the Equipos Coric Client Communications Suite. Founded in 1999, the company has offices in London, U.K., Boston and Toronto, and a technology center in Wolverhampton, U.K.
Before the acquisition, the Coric Client Communications Suite was being used by some of SimCorp’s clients, officials say. SimCorp officials add that they hope many existing and new SimCorp Dimension clients will adopt the Coric reporting solution now that SimCorp fully controls the vendor.
Raiffeisen Bank Automates Recs Processing
The Vienna-based Raiffeisen Bank International (RBI), which serves Central and Eastern Europe, has installed Broadridge’s PROactive Reconciliation Solution across six of the bank’s regional subsidiaries to automate and centralize reconciliation processing, say Broadridge officials.
Through its shared service center in Romania, known as the Centralized Raiffeisen International Services and Payments S.R.L. (CRISP), RBI is consolidating the reconciliations processing of its operations across multiple European locations, officials say.
The centralized hub to come will help RBI’s international network banks move to a single installation, say bank and Broadridge officials. Ultimately, the bank wants to shift all processing from locally installed stand-alone systems onto an enterprise-wide platform, offered by Broadridge on a choice of database technologies.
“The implementation of PROactive has enabled us to provide an ASP [application service provider] service internally and across multiple locations,” says Pierre Brisse, general manager, CRISP, in a statement.
The deployment should help the bank maximize operational efficiency across multiple regions, Brisse says. RBI is already experiencing “substantial improvements to our automated matching rates and the ability to quickly onboard additional reconciliation types,” he adds.
RBI has network banks in Poland, Bosnia and Herzegovina, Kosovo, Romania, Bulgaria and Albania that are either adopting the new implementation or migrating to the latest release of PROactive, officials say.
Abacus Group Partners with Imagineer
Hosted IT provider Abacus Group will offer Imagineer Technology Group’s Clienteer customer relationship management software in the AbacusFLEX private cloud environment, officials say.
Clienteer allows fund managers to centralize their contact, account and fund information along with Outlook integration. The software was developed for hedge funds, private equity firms and other asset managers, focuses on investor relations, sales and marketing, operations, compliance, and the workflows related to these activities, officials say.
The new partnership will help AbacusFLEX clients access the Clienteer CRM Platform, with the option for users to either maintain the system internally or have it hosted by Imagineer, officials say.
The Clienteer solutions enable users to personalize and watermark email distributions, and to run fund and account performance analytics and compliance reports, officials say. Fund managers can also access their firms’ history of notes, meetings, and emails via the AbacusFLEX private cloud platform linked to Clienteer’s search engine and mobile support.
Omgeo Grows CTM Customer Base by 33%
Post-trade services vendor Omgeo saw a 33% increase in customers on its Omgeo Central Trade Manager (Omgeo CTM) trade matching platform in 2013, adding to the new total of more than 1,700 clients globally, officials say.
The new customer tally includes more than 150 additional broker/dealers and 280 investment managers, officials say.
Tim Keady, chief client officer for DTCC, Omgeo’s parent company, says that a greater presence in Asia-Pacific and Latin America, and broadening of its asset class coverage to include exchange-traded derivatives (ETD) attributed to the customer growth rate. “We now have over 45 clients signed for ETD functionality,” Keady says in a statement.
Officials add that customer growth in 2013 was also partially driven by the completion of a migration of clients from Omgeo’s legacy local trade confirmation service, Omgeo OASYS Global, to Omgeo CTM.
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