Enfusion signs 136 new fund managers so far in 2020
Enfusion, a global cloud-native software-as-a-service (SaaS) has signed a record number of new fund manager clients so far in 2020, and onboarded new hires to support the increasing demand from institutional asset managers and hedge funds.
Enfusion has signed 136 new clients year-to-date and grown its outsourced middle and back-office services clients by more than 50 per cent. New client profiles range from USD100 billion AUM institutional asset managers to emerging hedge fund managers. Enfusion has 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 per cent 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,” says 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 per cent 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.