Royal London Asset Management (RLAM) has adopted BlackRock’s Aladdin platform, which HSBC will leverage to manage the fund manager’s middle office.
HSBC’s securities services business service RLAM’s assets and will now be supported by the technology platform.
The adoption of Aladdin aims to allow for greater scalability of RLAM’s fund management business.
Jonathan Kennedy, chief operating officer at RLAM, says: “The implementation of Aladdin is a transformational landmark for RLAM.
“It supports our ambitious plans for scalable growth, as we continue to improve our capabilities, efficiencies, investment strategies and services.”
Fiona Horsewill, global head of securities services at HSBC, adds: “The implementation of BlackRock’s Aladdin platform for RLAM is designed to provide a more efficient and cost-effective operating model for the management of their funds.”
Tarek Chouman, BlackRock’s global head of Aladdin client business comments: “RLAM required a single technology platform that could not only partner with HSBC, but also provide the scale to meet its future growth ambitions.”
