CaixaBank Asset Management has selected SimCorp Dimension for its front to back office operations.
According to SimCorp, SimCorp Dimension will enable CaixaBank Asset Management to scale and enhance its position in the market.
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 Investment Book of Record, CaixaBank Asset Management will be able to address its data management with a single source of real-time data delivering a view of positions, cash and exposure.
The agreement with CaixaBank Asset Management follows an agreement signed with its sister company, VidaCaixa, in late 2016. CaixaBank Asset Management, part of the CaixaBank Group, has it headquarters in Spain.
The contract between CaixaBank Asset Management and SimCorp was signed in December 2017 and all conditions in the contract were finally met in March 2018.
Jaume Viladrosa Cutrina, chief technology officer at CaixaBank Asset Management, said: “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 organisation from trading to fund accounting.”
He added: “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 for SimCorp Southern Europe, commented: “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.”
He added: “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.”
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