SimCorp, a leading provider of investment management solutions and services to the global financial services industry, today announces that it has appointed Mhamed Zlitni, as Senior Sales Manager for SimCorp in Luxembourg. In this newly created role, Mhamed Zlitni will be responsible for sales of SimCorp solutions in Luxembourg, which is cementing its position as the focal point for the growing global custody and fund administration market. The appointment is an important element in SimCorp’s strategic move to scale operations and increase its local presence, following several recent custodian and asset servicer agreements, in the market.
As the global buy side fights the impact of high operating costs and lower fees, the demand for integrated solutions that can lower costs and operational risk, is continuing to rise. In this landscape, custodians and asset servicers are also suffering from a similar cost pressure, with the need to scale becoming more urgent, as assets under administration increase. Many are also looking to simplify and integrate their own infrastructure, by extending their services from beyond the back office, to compete more effectively.
With its scalable front to back scope, including custody capability wrapped in one system, SimCorp Dimension has already become the system of choice for custodians such as KAS BANK. The value proposition, especially for those entities offering both custody and fund administration services, comes from the fact that SimCorp Dimension can cover both functions, together with the provision of value-added services, such as the front office, all on one platform. This provides an attractive solution, complete with competitive edge and greater operational efficiencies.
Serving over 180 clients worldwide, SimCorp Dimension is used by 45% of the top 100 asset managers in the world, forming the backbone of investment operations for these clients, in many cases front to back. The increased focus on Luxembourg will continue to grow SimCorp’s user base, by adding the large footprint from those firms whose business models have traditionally relied on outsourced operations. At the same time, these buy-side firms can now benefit from SimCorp Dimension, as part of their outsourced investment operations, including fully integrated front office solutions, used by some of the largest institutions in the global buy-side industry.
Reporting to Karel Tant, Vice President of Sales for SimCorp UK, Northern Europe and Middle East, Mhamed Zlitni will use his vast experience in sales, from European data centre and managed services provider EBRC, and global consulting firms, Ernst and Young and Accenture, together with his astute knowledge of both the Grand Duchy and the international marketplace, to continue talks with global custodians, fund administrators and asset managers in the market.
Hans Otto Engkilde, Managing Director and Senior Vice President, SimCorp UK, Northern Europe and Middle East: “We are pleased to have Mhamed on board with us to oversee this fresh strategy. The message is clear; the buy-side industry needs consolidation, and this is no different for custodians or fund administrators. Having established a compelling offering for Luxembourg, we are confident that our strong global position and integrated approach can help many institutions address their infrastructure, to achieve the cost efficiencies they need and the competitive edge they desire.”
Mhamed Zlitni, Senior Sales Manager, SimCorp Luxembourg: “I am pleased to join SimCorp in Luxembourg. The market holds many synergies for SimCorp. For one, the front to back investment and custody capabilities of SimCorp Dimension are a perfect combination in solving much of the pressure facing custodians and fund administrators today. Secondly, our position as a global company, with sales, consulting and implementation resources around the world, ensures we are best placed to serve this concentrated market of both global and local entities. I very much look forward to entering this role and working with our global sales teams to spearhead this drive.”
