SimCorp, provider of investment management solutions, is to merge with its Northern Europe and UK market units. The UK unit will also cover Ireland and the Middle East.
The initiative is designed to address the changing requirements of the asset management industry and deliver enhanced scale and leverage expertise across market units.
According to SimCorp, the move comes at a time when the buy side is increasingly recognising technology and infrastructure as integral to limiting costs, which increases profitability and improves client value.
Hans Otto Engkilde, managing director of Simcorp Northern Europe, will lead the merged UK and Northern Europe market.
Engkilde will be responsible for the growth of SimCorp’s investment management specialisms, from the front office through to alternatives, data services, and client reporting.
Engkilde commented: “I’m pleased to be leading such a significant collaboration and to be working more closely with the teams in the UK, who between them have a great deal of talent and experience.”
He added: “The combination of the UK market, where we still have a large potential for attracting new clients, and the expertise from the mature Northern Europe market unit, will give SimCorp a significant competitive advantage, enabling us to optimise our operations with a larger local footprint and swifter project implementations.”
Jochen Müller, executive vice president and head of SimCorp Europe, Middle East and Africa and Asia Pacific, said: “The merging of the UK and Northern Europe market units is particularly important, at a time when the global buy side increasingly looks to vendor expertise to address market complexities.”
Müller added: “Operating out of a larger unit will enable us to provide an even better service to existing clients, as well as attracting new clientele in the UK, Ireland and Middle East. Our commitment to the UK market and our office in London, with more than 150 employees, is foremost and remains unchanged.”
