SimCorp will provide support to Wachovia’s foreign bond back office operations. SimCorp’s investment management system, SimCorp Dimension, will cover accounting for foreign bond and foreign exchange transactions, position and regulatory reporting, processing of pricing information and pay down information for foreign mortgage backed securities. The system will also provide reconciliation and position information to the front-office portfolio desk. Wachovia has researched a broad range of systems but determined that SimCorp Dimension was the only system that met its requirements in terms of both functionality and instrument coverage.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.