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SimCorp opens office in Luxembourg to support the demands of one of the world's largest markets for fund administration services

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SimCorp, leading supplier of highly specialised software and expertise for the
investment management industry announces the opening of new office in
Luxembourg. It will be SimCorp's 20th international office, and will support
SimCorp's clients in Luxembourg as well as cater for new business in one of the
world's largest markets for fund administration services. 

SimCorp's enterprise solution for the fund industry, SimCorp Dimension, was
launched in the Luxembourg market a year ago during the early wake of the
financial crisis. Today, more than ever financial institutions are focusing on
their IT infrastructures in their constant undertaking to mitigate operational
risk, find long-term cost savings and position themselves for sustainable
future growth. SimCorp Dimension, an enterprise system, is a seamless,
automated, single-database solution that can meet the advanced and complex
requirements of the Luxembourg fund industry with focus on fund administration,
fund accounting and multiple tax regimes. SimCorp Dimension's IT infrastructure
reduces the risks inherent in maintaining internal interfaces and labour
intensive reconciliation processes between different internal systems, and its
transparent architecture significantly reduces risk associated with
counterparties, major defaults and governance. 

“Financial institutions are under increasing pressure from both regulators and
clients to improve efficiency, transparency and governance.” says Troels P.
Jensen, managing director of SimCorp's activities in Western Europe including
Luxembourg. “We look forward to supporting existing as well as new clients in
Luxembourg, one of the largest financial services markets in the world.” 

SimCorp's executive vice president and chief operating officer, Torben Munch
supplements: “SimCorp steadily grows its business as well as the value we bring
to our clients. With the opening of our 20th international office, we further
demonstrate our commitment to the global financial investment management
industry”. 
 
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Enquiries regarding this announcement should be addressed to:
Troels P. Jensen, Managing Director, SimCorp Western Europe (+32 498 86 66 00) 
Torben Munch, Executive Vice President, SimCorp A/S (+45 35 44 88 00)

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SimCorp
SimCorp is a leading provider of highly specialised software and expertise for
the investment industry. Established in 1971, with more than 1,100 employees,
SimCorp is listed on the NASDAQ OMX Copenhagen A/S. SimCorp enables global
investment management organisations to mitigate risk, reduce cost and enable
growth through development and implementation of its integrated and
market-leading financial software solution SimCorp Dimension. SimCorp is
headquartered in Copenhagen with subsidiaries and branches in Amsterdam,
Brussels, Frankfurt, Helsinki, Hong Kong, Kiev, London, Los Angeles,
Luxembourg, Munich, New York, Oslo, Paris, Singapore, Stockholm, Sydney,
Toronto, Vienna and Zurich.

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