SimCorp has merged its Central Europe, Southern Europe and UK/Northern Europe/Middle East (UNM) market units, into one integrated Europe, Middle East and Africa (EMEA) unit.
The move is designed to support SimCorp’s growth ambition, by developing closer client relationships across borders and achieving greater scale and agility in key business functions.
With many of SimCorp’s clients increasingly spanning across market unit borders, the merger’s principle aim is to deliver enhanced customer excellence and operational efficiency, without the previous restraint of market unit borders.
SimCorp highlighted that while local market proficiency remains a continued focus, the new setup strengthens the overall client experience.
According to SimCorp, this will be achieved with a more streamlined engagement process where SimCorp will take on greater responsibility for solving key challenges and driving successful business outcomes for its clients.
SimCorp explained that the integrated unit secures increased scale and expertise to continue to attract and onboard new clients effectively.
The merged unit creates several value-added synergies across key functions, including developing its “fast-growing asset servicing partnerships model”, according to SimCorp.
SimCorp said this model sees its front-to-back, multi-asset investment management platform, SimCorp Dimension, empower some of the largest European and global asset servicers.
The merger also provides SimCorp’s employees with enhanced career development and expanded opportunities for mobility across borders.
The new EMEA market unit will be headed by Hans Otto Engkilde, the current managing director of SimCorp UK/Northern Europe/Middle East.
During his 21 years at SimCorp, Engkilde has acted in a variety of management roles within the company, with significant impact. He will now lead best practice throughout the merged market unit, with a focus on growing SimCorp’s front office, data management, alternative investments, and client communication offerings.
In a supporting role, Ralf Schmücker, managing director of SimCorp CE since 2012, will take on the new strategic position of senior vice president and head of EMEA customer experience and value advisory.
Christian Kromann, COO at SimCorp, commented: “The merger of our EMEA units comes at a critical time for the buy-side industry, as many increasingly look for external partnerships to address fatigued technologies and ops teams, overwhelmed by today’s market complexity. By creating a larger, more streamlined unit, we will better serve our clients’ long-term goals and provide them a superior client experience. At the same, we are confident that the merging of units will boost our ability to nurture and leverage the talent of our employees, as new opportunities and career paths emerge.”
Engkilde added: “The new EMEA unit delivers many exciting opportunities for SimCorp and I’m pleased to be leading such a significant initiative, and to work more closely with our talented and experienced teams across the region. Leveraging the scale of the merged unit and the breadth of rich solutions and services that SimCorp continues to innovate and deliver, we are now optimally placed to serve the European buy-side community. Additionally, the stronger regional footprint delivers us a significant competitive edge to intensify client attraction, as firms seek a trusted vendor to support long-term prosperity.”
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