GAM partners with SimCorp to consolidate its operating platform
GAM Investments has inked a new long-term licence agreement with investment management solutions provider SimCorp.
GAM will partner with SimCorp to consolidate its external front and middle office systems on to one platform. The news follows the recent company announcement from SimCorp on a front office selection by a European asset manager.
SimCorp Dimension will serve as GAM’s core front office platform and Investment Book of Record (IBOR), supporting portfolio and order management, risk, compliance and performance management.
GAM will also use SimCorp Gain for enterprise data management, while SimCorp Coric will serve as its new client communications and reporting solution. The transfer of current front office systems to SimCorp will be seamless for clients and they will benefit from an improved client reporting experience from GAM.
The new licence agreement builds on a trusted and long-standing relationship with SimCorp. GAM has worked with SimCorp since 2004, with CHF 105 billion ($108.4bn) of its assets under management (AuM), run on the investment management platform, specifically the Private Label Funds business and select investment management strategies at GAM.
The transition to SimCorp’s platform, which manages $19 trillion in AuM globally, will begin this month.
Peter Sanderson, Group CEO at GAM, says: “SimCorp is an industry leader and its single platform solution is best suited to the future direction of GAM and will move GAM’s technology platform to a best-in-class model.”
Sanderson adds that transitioning to a fully integrated solution will not only enhance their clients’ experience of doing business with them through an improved reporting experience, but it will also increase operating effectiveness and efficiencies.
A full strategic update will be set out in GAM’s 2019 annual results announcement on 20 February 2020.