NEW YORK, Nov. 11, 2015 /PRNewswire/ -- SimCorp, a leading provider of investment management solutions and services for the global financial services industry, announced that it has partnered with Lord Abbett, a U.S. asset management firm, to support the firm's growth initiatives for its institutional products and international operations. Lord Abbett manages approximately $130 billion in assets across a full range of mutual funds, institutional, and separately managed accounts.
As a firm that is investment-led and investor-focused, Lord Abbett is dedicated to delivering superior long-term investment performance and providing a client experience that exceeds expectations. The firm seeks to achieve a leadership position in the various markets it serves. Additionally, Lord Abbett is expanding its international presence by growing its array of offshore products and building its international institutional client base.
Requiring a scalable solution to support the growth of its products and business, Lord Abbett selected SimCorp Dimension for its ability to process a wide range of security types. These advantages will enable Lord Abbett to introduce new products to the market more rapidly, with the added confidence that its operational systems will be able to handle a range of strategies, all while meeting ever-evolving regulatory requirements.
"Over the past several years, Lord Abbett has undertaken a number of key initiatives in order to serve the changing needs of our clients, address the evolving challenges of the markets, and position our firm for long-term growth," said Joan Binstock, Partner, Chief Financial and Operations Officer. "Working with SimCorp has enabled us to gain important efficiencies in our investment process, while establishing a strong foundation that will allow us to support new investment products in the future."
James Corrigan, Managing Director of SimCorp North America, commented, "Lord Abbett has a strong strategy behind its upcoming initiatives, and we are pleased to partner with them as they prepare the business for the future and embrace technology as an enabler of growth."
Enquiries regarding this announcement should be addressed to:
Dmitriy Ioselevich, Peppercomm Communications, dIoselevich@peppercomm.com, +1 212 931 6177
Erica Fidel, SimCorp North America, firstname.lastname@example.org, +1 212 994 9453
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world's leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds, and wealth managers. Based on its world-class software platforms, SimCorp Dimension and SimCorp Coric, SimCorp provides global financial organizations with the tools they need to mitigate risk, reduce cost, and enable growth. Listed on the NASDAQ OMX Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.