Trema says that If, a Sampo-owned property and casualty insurance company in the Nordic region, has bought its asset management application.
If, which has insurance operations that also encompass the Baltic countries, is a subsidiary of Sampo, a Nordic financial group which provides financial, investment and insurance services. If has approximately 3.8 million customers, 7,000 employees and Euros 10 billion assets under management. It is invested in cash, bonds, equities, commodities and FX.
“Sampo has been using Trema’s solution for many years and If will benefit by using the same system for its investment management operations,” says Tell Tornblad, Head of Investment Operations at If. “In a pre-study, Trema’s solution lived up to our high demands for a cutting edge asset management system, able to handle many asset classes for the whole trade cycle, reducing cost and risk.”
If previously outsourced investment management to third party managers, but is now building its own asset management organization, and aims to use Trema technology in the front, middle and back office.
“We are delighted to have been selected by If,” says Robert Wennerstrm, Regional Vice President and General Manager, Northern Europe, Trema. “Our complete solution is used by some of the world’s innovative and highly evolved asset managers, and If is one of them. We are confident that the solution will bring many benefits to the organization including greater transparency, control over the managing of assets and cost savings.”
Trema’s clients include ABN Amro, BMW, the European Central Bank, GE Capital, ING Investment Management, Lucent Technologies, Philips and Unilever.