New Zealand-based ASB Group Investments is deploying SimCorp's flagship investment management platform, SimCorp Dimension, for its funds management business.
ASB Group Investments was formed by the merger of ASB Bank's investment operations and life insurance business Sovereign. The SimCorp platform will replace a number of inhouse investment management and pricing systems previously used across the two organisations.
Ross McEwan, head of ASB Group Investments, says the firm chose Dimension because it is a flexible modular solution: "As an integrated system it would accommodate our business growth and we felt confident that its reporting and performance management tools would allow us to manage and minimise risk most effectively."
The company is the first in New Zealand to implement the SimCorp platform.