GAM Investments has entered into a licence agreement with Danish software firm SimCorp to consolidate its operating platform.

GAM will consolidate its external front and middle office systems using the SimCorp platform.

Under the long term agreement, GAM will utilise SimCorp Dimension as core front office platform and Investment Book of Record (IBOR).

This is said to facilitate performance management, risk, compliance, as well as portfolio and order management.

Besides, the investment manager will leverage SimCorp Gain for enterprise data management along with SimCorp Coric for client communications and reporting.

The two parties have been working alongside since 2004.

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By GlobalData

GAM group CEO Peter Sanderson said that the move aligns with its plan to lower complexity.

“Transitioning to a fully integrated solution will not only enhance our clients’ experience of doing business with us, most visibly through an improved reporting experience, but will also increase operating effectiveness and efficiencies,” Sanderson stated.

The agreement comes amidst ongoing troubles at GAM, which started after an internal probe revealed breaches in the risk management and record keeping processes of star fund manager Tim Haywood.

Last month, BNY Mellon signed an agreement to integrate its custody business with SimCorp Dimension.

Earlier in 2019, Edmond de Rothschild Asset Management (EdRAM) collaborated with SimCorp to offer portfolio management solutions for third party asset managers.