CaixaBank Asset Management has selected SimCorp Dimension for its front to back office operations. SimCorp is a leading provider of investment management solutions and services to the global financial services industry.
With more than EUR50 billion under management, CaixaBank Asset Management, part of the CaixaBank Group, is a major player in the wealth and asset management sector in Spain. SimCorp’s agreement with CaixaBank Asset Management follows an agreement signed with its sister company, VidaCaixa, in late 2016.
SimCorp Dimension will replace a number of in-house built applications in the front and middle office, across portfolio and order management, pre- and post-trade compliance and performance measurement, through to fund accounting and other back office functions. Supported by SimCorp’s foundational IBOR (Investment Book of Record), CaixaBank Asset Management will address its data management with one source of real time data delivering an organization-wide view of positions, cash and exposure.
Jaume Viladrosa Cutrina, Chief Technology Officer at CaixaBank Asset Management, says: “We have selected SimCorp Dimension for its broad functional coverage and its proven ability to increase operational efficiency. The implementation of SimCorp Dimension will enable us to scale for growth by relying on a single source of data across the entire organization from trading to fund accounting. In the front office, our teams will benefit from real time data enabling them to make faster and more informed investment decisions. We look forward to working with SimCorp on this strategic project.”
Emmanuel Colson, Managing Director at SimCorp Southern Europe, says: “We are very pleased to welcome CaixaBank Asset Management to the SimCorp client community and to have the opportunity to support their growth strategy. Their investment in the integrated SimCorp Dimension platform to drive business transformation and efficiency demonstrates a strong commitment to securing the firm a competitive edge. The Spanish market is key to our expansion in Southern Europe and the partnership with CaixaBank Asset Management further strengthens our position in this market.”