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Nordea Savings & Asset Management wins the SimCorp StrategyLab Cost Management Excellence Award 2010

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Nordea Savings  & Asset Management (S&AM) was announced the winner of the
SimCorp StrategyLab Cost Management Excellence Award 2010. The award was
presented at one of the largest investment management industry events, the
SimCorp Dimension International User Community Meeting, in Berlin earlier
today. 

SimCorp StrategyLab announced this year's winner of the SimCorp StrategyLab
Cost Management Excellence Award at an event in Berlin, at which close to 400
senior delegates from the international investment management industry
witnessed Nordea S&AM take home the award. 

The award went to Nordea Savings & Asset Management because the company has
worked strategically with cost management for a number of years, and saw the
benefits of doing so even before the financial crisis forced the industry in
general to take a more structured approach to managing costs. The jury was
especially impressed with the fact that since 2006 Nordea S&AM has compared its
operational costs against other asset management companies in an annual
benchmark study and has been able to effectively learn from other companies'
best practices. Despite higher volumes and increased complexity in business
demands Nordea S&AM has been able to reduce its operational cost base all
together. 

Head of Asset Management Operations, Ulrik Modigh, points to a key element in
Nordea Savings & Asset Management's successful attempt to reduce costs: "Our
cost management strategy has been relying on the fact that we are operating on
a wall-to-wall IT solution. This platform has been the foundation for
implementing our strategy when it comes to centralizing and standardising
activities and automating processes.” And he continues: “We have already been
rewarded well for our efforts in this area in terms of reduced costs.
Nevertheless, we are also truly honoured to be recognised with this award.” 

Nordea S&AM was named the winner after thorough evaluation of entries by an
international jury consisting of distinguished specialists and academics within
finance and governance. The jury included professor and director of SimCorp
StrategyLab, Ingo Walter, professor Paul Verdin of KU Leuven University,
professor Michael Pinedo of Stern School of Business, NYU, and SimCorp's CEO
Peter L. Ravn. 

The award has been established for the purpose of rewarding and promoting best
practise within risk, cost and growth management in the global investment
management industry. 

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Enquiries regarding this announcement should be addressed to: 
Lars Falkenberg, Assistant Director, SimCorp StrategyLab (+45 35 44 88 00, +45
26 30 01 27) 

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About Nordea and Nordea Savings & Asset Management 
Nordea's vision is to be a Great European bank, acknowledged for its people,
creating superior value for customers and shareholders. Nordea has around 10
million customers and approx. 1,400 branch offices. Nordea is the largest asset
manager in the Nordics and one of the European asset managers with the highest
growth rate. In Q2 2010 Assets under Management of the Nordea Group increased
to all-time high EUR 170 bn. 

SimCorp StrategyLab 
SimCorp StrategyLab is a private research institution, headed by Mr Ingo
Walter, Seymour Milstein Professor of Finance, Corporate Governance and Ethics
at Stern School of Business, New York University. SimCorp StrategyLab research
work focuses on identifying, understanding and suggesting solutions to issues
pertaining to mitigating risk, reducing cost and enabling growth in the
investment management industry. www.simcorpstrategylab.com

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