West LB Mellon Asset Management (WMAM) has selected SunGards Asset Arena to replace its existing middle- and back-office applications at its Dusseldorf and London operations.
WMAM, a joint venture of WestLB AG and The Bank of New York Mellon Corporation, offers asset management services to institutional and retail clients. SunGard Asset Arena is a range of front- to back-office applications that support the entire lifecycle of investment processes and operations.
Global asset managers, such as WMAM, are increasingly seeking greater operational synergies between their middle- and back-office operations. SunGards Asset Arena Investment Accounting and Compliance & Trade Support applications will help WMAM benefit from an integrated platform that helps deliver increased operational efficiencies between critical asset servicing functions.
These functions include: compliance for post-trade checks against investment directives and market practices; trade support for integrated order processing between trade operations and fund accounting; and seamless communications with external partners. Asset Arena will help integrate all of these functions on one platform and support WMAMs operations across multiple offices in different countries through a single installation.
“After a comprehensive comparison of software vendors, we decided to choose SunGards Asset Arena. We were convinced, in particular, by the multi-site usage via a single-site installation, as well as by the proven track record of SunGards investment accounting offering at leading financial services companies throughout Europe. With Asset Arena in place, we hope to achieve extensive optimisation for our internal processes and workflows,” says Christoph Krey, global head of IT, WMAM.
“SunGards Asset Arena continues to demonstrate its ability to meet a broad range of asset servicing functions that span operations and workflows, while also offering the flexibility for customers to select a tailored solution that meets their individual requirements. We are pleased that West LB Mellon Asset Management has chosen our fund accounting system,” adds Thorsten Junike, CEO, SunGards investment accounting business in Germany.