Groupama Asset Management Automates its Front and Middle Office Operations with SimCorp Dimension
Press Release
SimCorp, a leading provider of investment management solutions and services to the global financial services industry, today announced that Groupama Asset Management has gone live with the deployment of SimCorp Dimension, to automate its front and middle office operations. Groupama Asset Management, a subsidiary of the Groupama insurance group has grown to become one of France’s largest asset managers, with more than EUR 100bn in assets under management. Its addition to the SimCorp community sees it joining some of the leading insurers around the world who are moving into the asset management space to reap diversified returns, aided by a cost-effective, multi-asset class IT infrastructure.
To scale for growth, Groupama Asset Management decided to consolidate and simplify its IT throughout its front and middle office operations, to increase efficiency, gain agility and reduce operational risk. The group required a flexible and integrated solution enabling them to enhance the management of assets & liabilities, onboard complex instruments in line with the latest regulations, and deliver new and advanced functionality. After a rigorous selection process, SimCorp Dimension stood out as the solution that best addressed Groupama Asset Management’s current criteria, above and beyond the initial project scope, as well as offering the ability to scale for the future.
Hubert Le Lourd, Chief Operating Officer at Groupama Asset Management, commented: “The implementation of SimCorp Dimension enables us to both focus on our core business and to position ourselves for further expansion. Having gone live, we’ve already seen major benefits, including the removal of more than 10 solutions, much broader front and middle office functionality and most importantly, access to real-time data that enables our front office to make more timely and informed investment decisions. The collaboration between Groupama AM and SimCorp has been key in the timely delivery of this project.”
Emmanuel Colson, Managing Director at SimCorp Southern Europe, commented: “The on-time and on-budget success of this project demonstrates SimCorp’s dedicated implementation resources while the system itself ensures our clients can benefit from the scale that is needed to support their growth. This is particularly important for asset managers with insurance mandates, where a low running cost and consolidated, multi-asset infrastructure is crucial in yielding desired returns. The collaboration between the teams has been great and we look forward to further strengthening this partnership in the future.”
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.
About Groupama Asset Management
Since its creation in 1993 Groupama Asset Management, a subsidiary of Groupama, has established its place as one of the top French players in the field of asset management. Groupama Asset Management, which historically operated on behalf of numerous entities of the Groupama Group, has now put its expertise and know-how at the service of institutional investors, companies and distributors. For more information, please visit http://www.groupama-am.com.