Nov 19, 2020, 09:00 ET
NEW YORK, LONDON and HONG KONG, Nov. 19, 2020 /PRNewswire/ -- Enfusion, a global cloud-native software-as-a-service (SaaS) investment management framework and middle/back-office services provider, announced today another year of year-over-year global growth fueled by a record number of new clients signed and new hires onboarded to support the increasing demand for true SaaS solutions among institutional asset managers and hedge funds.
In 2020, Enfusion signed 136 new clients year-to-date and grew its outsourced middle and back-office services clients by more than 50% in 2020. New client profiles range from $100B AUM institutional asset managers to emerging hedge fund managers. Enfusion also expanded its team globally to include 174 strategic hires in key markets around the world and will continue its global hiring initiatives in 2021. Notably, the firm has seen triple-digit growth in Asia Pacific (APAC) clients year-to-date, which is representative of a growing shift in demand in the region to cloud-native solutions and a single-source approach to data and workflows.
In Q3 alone, Enfusion signed 30% more new clients compared to Q3 of the previous year, a standout quarter for the company. The new clients indicate a fundamental change in how companies around the world are adjusting to long-term remote working environments to ensure the best infrastructure is in place to cohesively and seamlessly continue operating effectively without disruption.
"While this year has had many unexpected twists and turns, each and every team member has navigated it with tremendous poise, tenacity and dedication, enabling Enfusion to continue to achieve strong results," said Thomas Kim, Enfusion CEO. "We are proud to be delivering on our mission of simplifying and evolving the investment management solutions space on a global scale as many fund managers continue to face the challenge of cumbersome legacy systems that pose a bottleneck to rapid investment decision-making.
Enfusion's market-leading technology combined with our outsourced middle and back-office services sets investment managers up for success and we're excited to continue to deliver this value to an ever-expanding client base into 2021 and beyond."
Alongside its client expansion, Enfusion continues to make investments in new talent and has grown its global team by 78% year-to-date (compared to the previous year) in key geographic regions including APAC, Europe, the Middle East and Africa (EMEA), India and South America. New personnel will support Enfusion's Global Delivery Services (GDS), which will enhance product implementation, client onboarding and customer experience, as well as ongoing platform adoption across its increasingly global client base. As part of this and Enfusion's broader customer service and product innovation strategy, the firm added staff at multiple levels throughout its global campuses in Hong Kong, Dublin, Sao Paulo, New York City, Chicago, London, Mumbai and Bangalore to support middle-office and back-office managed services, product management, customer experience and talent acquisition.
Enfusion's executive leadership team also grew in 2020 with the addition of Michel Finzi as Senior Managing Director of Product Management in October, Lorelei Skillman as Chief Marketing Officer in September, Thomas Kim as Chief Executive Officer in March and Julie Nagle as Chief People Officer in February.
Enfusion's investment management software-as-a-service platform removes traditional information boundaries, uniting front, middle and back-office teams on one cloud native system and across one golden data set. Through our industry-leading software, analytics, and middle/back-office managed services, we create enterprise-wide cultures of real-time, data-driven intelligence, boosting agility, and powering growth.
As a Fintech leader and pioneer in developing innovative solutions, Enfusion partners with 500+ investment managers from eight global offices spanning four continents. Enfusion was recognized by Aite Group as "Best in Class" for its Front-to-Back Portfolio Management System in 2019 and was named "Best Managed Services Provider" at the 2020 HFM EU Services Awards. For more information about its technology and Managed Services capabilities visit: https://www.enfusionsystems.com/.
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