Swisscanto, a Swiss investment fund and asset manager whose shareholders are the 24 Swiss cantonal banks, will be expanding its usage of the SimCorp Dimension integrated system to include the in-house administration of its funds, according to a report from SimCorp, a vendor of investment management solutions and services. Since 2004, Swisscanto has been using… Read More >>
Heir Apparent to JPM’s Dimon Joins Carlyle Group as Nasdaq OMX Appoints EVP to Head New Unit
Likely Heir Apparent to JPM’s Dimon Joins Carlyle Group Mike Cavanagh, generally considered an heir apparent to Jamie Dimon, chairman and CEO of JPMorgan Chase (JPM), is leaving his post as co-CEO of the Corporate and Investment Bank (CIB) division to become co-president and co-chief operating officer of The Carlyle Group, an asset management company… Read More >>
Electra Hires a COO as SimCorp Appoints MD for UK, Ireland & the Middle East
Electra Names Scott Rhodes COO, Puts Up ‘Now Hiring’ Sign Electra Information Systems, a reconciliation and post-trade solutions provider for the asset management industry, has named Scott Rhodes chief operating officer, a new position at the vendor. The appointment signals a “significant amount of growth” and expansion at Electra, where the Now Hiring sign has… Read More >>
SimCorp Acquires All of Equipos as Raiffeisen Bank Automates Recs
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… Read More >>
An Infosys Exec Moves to iGATE as DST Hires from Eagle
iGATE Taps Infosys Exec for President and CEO Consulting, technology and business process outsourcing vendor iGATE has appointed Ashok Vemuri to be its next president and CEO, replacing Gerhard Watzinger, who has been the interim president and CEO since May 2013. Watzinger will remain with iGATE in an advisory role temporarily to assist with Vemuri’s… Read More >>
FSB Reports Progress on OTC Reform as SWIFT Debuts BIC-to-LEI Mapping
FSB Reports ‘Substantial Progress’ for OTC Reforms The Financial Stability Board reports that “substantial progress” is being made via standard-setting bodies, national and regional authorities and market participants toward meeting the goals of over-the-counter (OTC) derivatives reforms set by G20 Leaders four years ago. However, the FSB would like to see greater acceptance of centralized… Read More >>
Broadridge and Scivantage Tackle TARP III as SS&C Updates GoWire
Broadridge and Scivantage to Take on TARP III Broadridge Financial Solutions clients will gain access to the Maxit tax lot accounting system for cost-basis reporting from Scivantage, according to a strategic partnership targeting financial services firms that need help with so-called TARP III compliance, say officials from both companies. In April, the Internal Revenue Service… Read More >>
Top FCMs Help Buy Side with Central Clearing Deadline
Commodity pools, private funds, banks and securities firms began the second phase of required clearing yesterday for Category 2 credit default and interest rate swaps and top U.S. clearing brokers serving as futures commission merchants are taking steps to help buy-side firms meet their requirements mandated by the CFTC.The CFTC has waived the clearing requirement… Read More >>
OTC Collateral Reforms to Cost the Industry $53B as Capital Dynamics Details New Fund Management Platform
Celent Report: Price Tag for OTC Collateral Management Reform to Hit $53 Billion As derivatives clearing and collateralization reforms get underway, the financial services industry will spend more than $53 billion in infrastructure and technology investments to make their systems more operationally efficient, according to a new report from market research firm Celent.“We expect it… Read More >>
Time to Dump Your Legacy Systems?
A survey of 125 financial services firms in Europe, North America and Asia-Pacific, sponsored by SimCorp StrategyLab, hits on a tricky question for many firms—just when do legacy systems simply cost so much to maintain that to replace them would be more cost-effective? This issue is hitting home just when most firms are focusing their… Read More >>
