Marathon Asset Management selects Simcorp Coric for client reporting
UK-based Marathon Asset Management (Marathon) has chosen Simcorp’s Coric – an end-to-end client communications and reporting suite.
Simcorp says Marathon decided to replace its “outdated” legacy reporting system with Coric after a “comprehensive” review.
The implementation will also include Coric’s Web Reporter, a self-service online reporting portal. Marathon will deploy Coric as an on-premise solution, which will be delivered in two iterations. The first part of the project started last month. The second phase, to deploy Web Reporter, will start at an unspecified later date.
Nick Hughes, chief operating officer at Marathon, says: “Simcorp Coric provides us with an automated, scalable and cost-effective platform to deliver a more efficient and enhanced level of client service.”
Marathon is a London-based investment manager with £52 billion in assets under management. It was founded in 1986.
Simcorp Coric: where does it come from?
The Coric solution stems from a London-based company, Equipos, which was purchased by Simcorp in early 2014 for €10 million.
The two companies had a long-standing partnership by then. The Coric Client Communications Suite was already brought into the Simcorp portfolio, marketed and sold as Simcorp Dimension Report Book Manager.
At the time of the acquisition, Equipos had around 70 Coric clients, in the institutional asset management and private wealth sectors. Prior to the deal, Simcorp held a 20% stake in Equipos’ share capital.
Simcorp intended to offer Coric both on a standalone basis and fully integrated with its middle-to-back office system, Simcorp Dimension.
Klaus Andersen, regional MD at Simcorp at the time, was appointed to lead the Simcorp Coric business. Stuart Keeler, who joined the firm from another UK-based software vendor, eFront, replaced Andersen in January 2016.