China Life selects Markit for asset management 11 February 2014London Reporter: Daniel Jackson
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China Life Asset Management Company has selected Markit’s enterprise data management platform for asset management.
Markit is a global financial information services company.
The platform will act as a central hub for all of CLAMC’s securities, pricing, positions and transaction data.
After a competitive pitch involving an extensive list of international and local EDM vendors, Markit’s implementation record stood out as did its ability to meet CLAMC’s broad set of needs.
Daniel Simpson, managing director and head of enterprise software at Markit, said: “This is a significant contract to win in the Chinese market. Our insurance asset management credentials, experience with the software platforms used by CLAMC and local presence were deciding factors in our successful bid.”
“When we started our operations in Asia, we committed for the long term and we are delighted to be working with such a prestigious financial institution in China.”
China Life Asset Management Company is among the first insurance asset management companies founded in China. Co-funded by China Life Insurance Company and China Life Insurance Company Ltd, CLAMC has $300 billion in assets under management and is the largest institutional investor in China’s capital markets.
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