GAM Investments has signed a new long term licence agreement with investment management solutions provider SimCorp to consolidate its external front and middle office systems on to one platform. 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 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 USD 19 trillion in AuM globally, will begin this month.
Peter Sanderson, Group CEO at GAM, says: “Reducing complexity remains a priority at GAM and consolidating our front and middle office systems is an important step towards achieving this. 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. Transitioning to a fully integrated solution will not only enhance our clients’ experience of doing business with us, most visibly through an improved reporting experience, but will also increase operating effectiveness and efficiencies.”