CaixaBank Asset Management Selects SimCorp Dimension to Transform its Investment Management, Front to Back

Press Release

SimCorp, a leading provider of investment management solutions and services to the global financial services industry, today announced that CaixaBank Asset Management has selected SimCorp Dimension to transform its front to back office operations*. With more than EUR 50bn under management, CaixaBank Asset Management, part of the CaixaBank Group, is the leader in wealth and asset management in Spain. SimCorp Dimension will provide a highly automated, cost-effective setup, enabling CaixaBank Asset Management to scale and enhance its position in the market. The agreement with CaixaBank Asset Management follows an agreement signed with its sister company, VidaCaixa, in late 2016.

To support future growth, CaixaBank Asset Management required an integrated front-to-back solution to increase its operational efficiency and automate key investment management processes and workflows. After a rigorous evaluation process, SimCorp Dimension was selected as the best solution to support CaixaBank Asset Management’s current and future business strategy. 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 IBOR (Investment Book of Record), CaixaBank Asset Management will address its data management with one source of real time data delivering an organization-wide view of positions, cash and exposure.  

Jaume Viladrosa Cutrina, Chief Technology Officer at CaixaBank Asset Management, commented: "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 organization from trading to fund accounting. 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 at 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. 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.”

* The contract was signed in December 2017 and all conditions in the contract were finally met in March 2018.

Enquiries regarding this announcement should be addressed to:
Anders Crillesen, SimCorp Corporate Communications +45 3544 6474 anders.crillesen@simcorp.com
Mittal Shah, SimCorp UK/North America +44 207 397 8072 mittal.shah@simcorp.com
Anne Kermarrec, SimCorp Southern Europe +33 1 55 35 54 63 anne.kermarrec@simcorp.com

About SimCorp
SimCorp provides integrated, best-in-class investment management solutions to the world’s leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers and sovereign wealth funds. Whether deployed on premise or as an ASP solution, its core system, SimCorp Dimension, supports the entire investment value chain and range of instruments, all based on a market-leading IBOR. SimCorp invests more than 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on Nasdaq Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.