Eagle Asset Management, the St. Petersburg, Fla.-based institutional and retail asset management firm, has selected the Dimension investment management system from SimCorp to replace the firm's legacy investment accounting, performance and client reporting systems.
Eagle Asset Management, which offers an array of equity and fixed income managed accounts and mutual funds, was looking for a single system to replace multiple older technologies. "As we undertake strategic initiatives to differentiate our products and service offerings, we depend on solid technology that can keep pace with our organizational goals and the market dynamics," said Steven Ballard, vice president of IT, Eagle Asset Management, in a press release. "In our evaluation, we looked for robust state-of-the-art technology designed to help us react to changes in business and product direction. SimCorp met these criteria but further differentiated itself with a platform architecture designed with a good deal of flexibility."
According to the release, Eagle selected SimCorp Dimension due to the ability to consolidate data from disparate sources and investment workflows on a single platform. SimCorp Dimension will allow the firm to capture the most granular level of data in a single database, which in turn can deliver better data quality and accurate client reporting.
"We are extremely proud to add a firm the caliber of Eagle Asset Management to our growing list of clients," said David Kubersky, managing director for SimCorp North America, in a press release. "Eagle Asset Management's selection of SimCorp is a reflection of the broader market's need for platforms that support transparency throughout the trade life cycle, especially in the wake of new regulatory reforms." Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio