Aegon Asset Management (Aegon AM) has implemented Clearwater Analytics’ SaaS-based data management, accounting, reporting, and analytics solution.

The goal is to help Aegon AM streamline its data, investment accounting and reporting globally.

Aegon AM currently manages and advises on $475bn of assets.

Clearwater is backed by a global client servicing team and more than half of its team are dedicated to ongoing software development.

In addition, Clearwater recently revealed plans to expand operations in Europe to more closely serve European clients like Aegon AM. Furthermore, Aegon sister company Transamerica selected Clearwater to enhance its investment data management.

“We recognised that in order to retain our leadership in the insurance asset management market and meet our growth ambitions, we needed leading-edge technology to match those objectives,” said Wouter Peters, global chief operating officer at Aegon AM.

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“We chose Clearwater for its integrated view across asset classes and its regulatory reporting. This will enable us to replace multiple accounting and reporting systems with one platform.”

“Clearwater is a disruptor in an industry dominated by legacy technologies,” said Gayatri Raman, Managing Director, EMEA and APAC at Clearwater.

“The Aegon Asset Management team went through a rigorous and exhaustive selection process to find a state-of-the-art solution that will help them streamline and future-proof their operations. We are proud to be chosen by Aegon AM to deliver market-leading investment solutions for its clients.”

In 2019, Aegon Asset Management intended to integrate its European and US businesses to enhance client outcomes and compete with global asset managers.

In 2018, Aegon merged its European management team with Aegon Asset Management (Netherlands), Kames Capital (UK), and TKP Investments (Netherlands).

The new model created a global operating management board headed by Aegon Asset Management global CEO Bas NieuweWeme.

The company also managed distribution and operations teams on a coordinated, global basis while maintaining local client focus.