SimCorp merges European market units
SimCorp, a provider of integrated, front-to-back, multi-asset investment management solutions and services to buy-side institutions, is merging its Central Europe, Southern Europe and UK/Northern Europe/Middle East (UNM) market units, into one integrated EMEA unit.
The move is designed to support SimCorp’s growth ambition, by developing closer client relationships across borders and achieving greater scale and agility in key business functions.
With many of SimCorp’s clients increasingly spanning across market unit borders, the merger’s principle aim is to deliver enhanced customer excellence and operational efficiency, without the previous restraint of market unit borders. While local market proficiency remains a continued focus, the new setup enables SimCorp to strengthen the overall client experience, by gaining a deeper understanding of their business. This will be achieved with a more streamlined engagement process where SimCorp will take on greater responsibility for solving key challenges and driving successful business outcomes for its clients. At the same time, the integrated unit secures increased scale and expertise to continue to attract and onboard new clients effectively.
The merged unit also creates several value-added synergies across key functions, such as sales. This includes developing SimCorp’s fast-growing asset servicing partnerships model, which sees its flagship front-to-back, multi-asset investment management platform, SimCorp Dimension, empower some of the largest European and Global asset servicers. Equally important, the merger provides SimCorp’s employees with enhanced career development and expanded opportunities for mobility across borders.
The new EMEA market unit will be headed by Hans Otto Engkilde, the current Managing Director of SimCorp UK/Northern Europe/Middle East. During his 21 years at SimCorp, Hans Otto Engkilde has acted in a variety of management roles within the company, with significant impact. He will now lead best practice throughout the merged market unit, with a focus on growing SimCorp’s front office, data management, alternative investments, and client communication offerings. In a supporting role, Ralf Schmücker, MD of SimCorp CE since 2012, will take on the new strategic position of Senior Vice President and Head of EMEA Customer Experience and Value Advisory.
Christian Kromann, Chief Operating Officer at SimCorp, says: “The merger of our EMEA units comes at a critical time for the buy-side industry, as many increasingly look for external partnerships to address fatigued technologies and ops teams, overwhelmed by today’s market complexity. By creating a larger, more streamlined unit, we will better serve our clients’ long-term goals and provide them a superior client experience. At the same, we are confident that the merging of units will boost our ability to nurture and leverage the talent of our employees, as new opportunities and career paths emerge.”
Hans Otto Engkilde, Managing Director, SimCorp EMEA, says: “The new EMEA unit delivers many exciting opportunities for SimCorp and I’m pleased to be leading such a significant initiative, and to work more closely with our talented and experienced teams across the region. Leveraging the scale of the merged unit and the breadth of rich solutions and services that SimCorp continues to innovate and deliver, we are now optimally placed to serve the European buy-side community. Additionally, the stronger regional footprint delivers us a significant competitive edge to intensify client attraction, as firms seek a trusted vendor to support long-term prosperity.”