Interesting acquisition in the German asset management (real estate) sector. The British Cordea Savills is set to buy the German SEB Asset Management AG, owned by swedisch SEB who seems to further withdraw itself from the German market.
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Thursday, March 19, 2015
Cordea Savills buying SEB Asset Management AG
Posted by Ronald Knecht at 7:15 PM 0 comments
Labels: Acquisition, Asset Management, Cordea Cavills, English, Germany, Great Britain, Real Estate, SEB, Sweden
Wednesday, March 04, 2015
Temenos acquires Multifonds
Seems the market for software vendors continues to shrink. This is another heads turning acquisition, not long after SS&C bought Advent, although a magnitude smaller.
Posted by Ronald Knecht at 4:37 PM 0 comments
Labels: Acquisition, Advent, English, Fund Accounting, Luxembourg, MultiFonds, SS&C, Switzerland, Temenos
Thursday, December 19, 2013
BearingPoint acquires risk management and reporting specialist RiValue
Interesting acquisition of a data technology platform for risk management and the respective reporting called RiValue. It has come a long way: formerly it has been a part of Value & Risk. BearingPoint seems to further evolve as a regulatory reporting system platform, complementing its services fueled primarily by its product ABACUS.
Posted by Ronald Knecht at 5:43 PM 0 comments
Labels: ABACUS, Acquisition, BearingPoint, English, Germany, Risk Management, RiValue, Value & Risk
Wednesday, November 13, 2013
Buy-Side Technology Awards 2013: The Winners
This year's winners are out, with a few new names and some "surprises". Good to see that the number of categories did not increase once again (currently at 28). In case you are interested to compare to previous years, these are the results for 2012 and 2011.
Friday, November 08, 2013
BNP Paribas Completes Acquisition of Commerzbank Depotbank
Now that the deal is completed the usual mechanisms kick in: amongst them is the consolidating of IT infrastructure and systems. With it the already expressed challenge - and there is no shortcut.
Posted by Ronald Knecht at 10:48 AM 0 comments
Labels: Acquisition, BNP, Custody, Depository Banking, English, Germany, Global Custodian, IT Infrastructure
Friday, August 09, 2013
Asset Control has a new owner
Interesting deal by Marline Equity that leaves me a tad bit puzzled in terms of synergy gains: the owner of a potpourri of systems and service providers outside the financial world buys one of the top reference data management systems, Asset Control. Looks a bit like Sungard to me.
Posted by Ronald Knecht at 2:58 PM 0 comments
Labels: Acquisition, Asset Control, English, Great Britain, Marline Equity, Netherlands, Reference Data, Sungard
Wednesday, July 31, 2013
BNP Paribas Buys Commerzbank's Depotbank Business
This deal was "in the air" for quite some time and several tries have been rumored. Other articles have named this deal the kick-off for the long awaited shrinking of the depotbank market in Germany. I am not sure that it would make the market pick up the pace in that regard.
The article uses a nice definition for depotbank: "Depotbank is a German term referring to a custodian carrying out clearing, custody and trustee services", a discrimination rather unknown in the anglo-saxon dominated world.
One challenge in carrying out this deal could be the IT infrastructure that the depotbank uses jointly with the core custody business or its outsource partners and that could require a major investment if the business is not completely migrated over to the BNP systems.
Posted by Ronald Knecht at 2:20 PM 0 comments
Labels: Acquisition, BNP Paribas, Commerzbank, Custody, English, Germany, IT
Friday, July 05, 2013
Dexia fund arm sale suffers setback
The acquisition of Dexia Asset Management by private equity firm GCS Capital seems to stumble says Ignite. This looks like a déjà vu: Deutsche Bank wasn't able to sell its fund admin arm to Guggenheim. Other deals did materialize, e.g.: BlackRock acquired Credit Suisse’s ETF business and Orix Corporation closed on Robeco, Rabobank's fund business.
Posted by Ronald Knecht at 11:38 AM 0 comments
Labels: Acquisition, Asset Management, Blackrock, Credit Suisse, Deutsche Bank, Dexia, English, ETF, GCS Capital, Luxembourg, Orix, Rabobank, Robeco
Thursday, January 03, 2013
Hauck & Aufhäuser to sell Lux private client ops
Yet another sale for Hauck & Aufhäuser. After selling its stake in Universal Investment, Hauck & Aufhäuser is now unhooking its private clients operations in Luxembourg.
Posted by Ronald Knecht at 12:05 PM 2 comments
Labels: Acquisition, DZ Privatbank, English, Hauck und Aufhäuser, Luxembourg, Operations, Private Banking, Private Client, Universal
Thursday, December 13, 2012
Deka und LBB fusionieren doch nicht
Nun also doch nicht! Einzelne Bereiche dagegen schon. Ob damit die KAG gemeint ist scheint noch unklar zu sein. Sollte es dazu kommen, würde möglicherweise die Fonds-Plattform Xentis, die die LBBi im Einsatz hat, zugunsten der auf SimCorp basierenden Plattform der Dealis zur Disposition stehen. Das wäre dann innerhalb kurzer Zeit schon die zweite KAG: die Oppenheim KAG dürfte sich nach den neuerlichen Veränderungen hier in einer ähnlichen Diskussion befinden.
Generell ist das ein vorhersehbarer Trend gewesen - die Anzahl der KAGen sinken, mithin die Anzahl der Fonds-Plattformen, die die Hersteller bei ihren Kunden halten können. Möglicherweise folgt dieser Entwicklung auch eine Konsolidierung der Anbieter?
Posted by Ronald Knecht at 5:02 PM 0 comments
Labels: Acquisition, Asset Management, Deka, German, Germany, KAG, LBBi, ProfiData, Sal. Oppenheim, SimCorp, Xentis
Dexia agrees sale of fund unit for €380m
Finally Dexia has sold its asset management arm although for much less than originally indicated. The buyer, GCS Capital, interestingly is tightly linked to Industrial and Commercial Bank of China (“ICBC”), so GCS' own press release. ICBC has quite a history and has been looking to tap into various acquisition opportunities throughout recent years not only in Europe.
Seems major acquisitions of asset management units are still possible in Western Europe; possibly a relief for those who tried and failed over the last two years...
Posted by Ronald Knecht at 4:46 PM 0 comments
Labels: Acquisition, Asset Management, Dexia, English, GCS Capital, ICBC, Luxembourg
Wednesday, October 24, 2012
The 2012 FinTech 100 Ranking
The yearly ranking of companies who sell software, hardware and IT services to financial institutions. Although very interesting and including the vendors of the asset management software application market, the definition of this ranking is a bit too broad. E.g. it includes Tata, Diebold and others that I would not consider to part of that market.
Posted by Ronald Knecht at 10:51 AM 0 comments
Labels: Asset Management, English, Financial Services, Ranking, Survey, Vendors
Thursday, July 05, 2012
Dealis: Franke übernimmt von Trageiser
Die Dealis verzeichnet einen Wechsel in der Geschäftsführung: Bernd Franke übernimmt von Roman G. Trageiser. In dem Bericht der Portfolio Institutionell heißt es: "Auch Franke ist im Administrations-Business ein alter Bekannter. In seiner langjährigen Tätigkeit für den HSBC-Konzern positionierte er unter anderem die Inka als Master-KAG.". Möchte das Blatt womöglich auf eine Neuausrichtung der Strategie hinweisen?
Posted by Ronald Knecht at 6:50 PM 0 comments
Labels: Dealis Fund Operations, German, Germany, HSBC, Inka, Master-KAG, People, Portfolio Institutionell
Thursday, May 24, 2012
Bloomberg LP Moves Into EDM Market, Acquires PolarLake
That's the second acquisition in the product vendor market in the last few weeks - CADIS has been baucht by Markit just recently. I wonder if there is a strategic advantage for the bigger players adding a reference data system to the product portfolio and even more so: why this is happening just now.
Posted by Ronald Knecht at 10:45 AM 0 comments
Labels: Acquisition, Bloomberg, Cadis, English, Reference Data, USA
Monday, May 21, 2012
Barrington: The Global PA Report 2012
Yet another Barrington report on fund accounting systems ("Portfolio Accounting"is the preferred term there and explicitly used as a synonym). With Germany and Switzerland (2 out of 10 named countries that should cover the entire planet) one would expect that the systems with a significant footprint in German speaking countries would be included. However, I wasn't able to find neither Profidata nor Diamos (MultiFonds, SimCorp and Sungard are included). The majority of the systems seem to be from North America.
Interestingly, vendors like Murex (MX 3), Temenos (WealthManager) and Thomson Reuters (Portia) are included.
Nevertheless an extensive report and a must-have for anyone in the business.
Posted by Ronald Knecht at 7:58 PM 0 comments
Labels: Barrington, Diamos, English, Fund Accounting, Germany, MultiFonds, Murex, MX 3, Portia, ProfiData, SimCorp, Sungard, Survey, Switzerland, Temenos, Thomson, WealthManager
Friday, May 11, 2012
Deutsche Bank: Milliardendeal geplatzt
Posted by Ronald Knecht at 5:38 PM 2 comments
Labels: Acquisition, Asset Management, Deutsche Bank, DWS, German, Germany, Guggenheim
Thursday, May 10, 2012
Markit to acquire enterprise data management specialist Cadis
One of the data management system vendors being more successful lately has just been acquired: CADIS by Markit. Its innovative approach of managing data has made it win several awards, despite being a young company (founded in 2007). It will be interesting to monitor the impact of this deal in the reference data systems market.
Posted by Ronald Knecht at 6:07 PM 1 comments
Labels: Acquisition, Cadis, England, English, Markit, Reference Data
Credit Suisse fund COO quits
Dr. Lohmann's resignation as the CEO of its asset management may be interesting, as Credit Suisse sold its German KAG to SGSS in July 2010.
Posted by Ronald Knecht at 5:40 PM 0 comments
Labels: Acquisition, Credit Suisse, CSAM, English, Germany, KAG, People, SGSS
Thursday, March 15, 2012
Thorsten Junike wechselt zu Alpheus
Thorsten
Junike wird ab 1. April 2012 Geschäftsführer bei Alpheus (bisher Vorstand bei Diamos) und für das Geschäftsfeld mit Kapitalanlagegesellschaften, Asset Managern
und Depotbanken verantwortlich zeichnen.
Posted by Ronald Knecht at 6:57 PM 0 comments
Labels: Alpheus, Asset Management, Depository Banking, Diamos, German, Germany, KAG, People
Thursday, February 23, 2012
Sparkasse Oberösterreich entscheidet sich für e-AMIS
e-Amis, das Wealth-Management-System der Profidata, hat einen neuen Kunden: die Sparkasse Oberösterreich.
Posted by Ronald Knecht at 7:10 PM 0 comments
Labels: Acquisition, Austria, eAmis, German, Portfolio Management, ProfiData, Sparkasse Oberösterreich, System Selection, Wealth Management
Friday, February 10, 2012
Macquarie bietet für Dt.-Bank-Vermögensverwaltung
Nachdem die JP Morgan aus dem Bieterkreis offenbar ausgeschieden ist, ist Macquarie offenbar dazugestoßen.
Wenn, wie im Artikel angedeutet, ca. 400 Milliarden verwaltetes Vermögen nicht mehr auf der Plattform der Deutschen Bank verwaltet werden, könnte sich die dann interessante Frage stellen, ob die Kosten der Infrastruktur für das dann verbleibende restliche Vermögen, den Fonds der DWS, nicht steigen werden.
Posted by Ronald Knecht at 7:21 PM 1 comments
Labels: Acquisition, Asset Management, Deutsche Bank, DWS, German, Germany, JPMorgan, Macquarie, Wealth Management
Wednesday, February 08, 2012
Misys and Temenos agree key merger terms
Another big merger on the way: Misys, which just merged with Sophis not even a year ago, is looking to unite forces with Temenos. As with every merger I have seen in my life, both confirm that both flagship products ("BankFusion" and "T24") will be maintained. However, it will be interesting to see what will happen with other products in the portfolio, e.g. ActisBSP.
Posted by Ronald Knecht at 5:34 PM 0 comments
Labels: Acquisition, ActisBSP, Core Banking, England, English, MiSys, Sophis, Switzerland, Temenos, Transaction Banking
Wednesday, November 02, 2011
Hamburger Sparkasse mandatiert BNY Mellon Service als Serviceprovider
Auch wenn es ein überschaubares Volumen an Spezialfondsmandaten ist - die HASPA nutzt für die gesetzliche und vertragliche Anlagegrenzprüfung die Plattform der BNY Mellon.
Es scheint, als würde sich gerade für diesen Service das Auslagern in Deutschland gut durchsetzen. Hier ist vermutlich das Depotbankrundschreiben der BaFin von Mitte letztes Jahres nicht unschuldig. Bei den weiteren präzisierten Anforderungen aus ebendiesem Rundschreiben (z.B. die Gebührenkontrolle und hier insbesondere der erfolgsabhängigen Gebühren, der NAV-Kontrolle oder der Bestandsführung für nicht-verwahrfähige Vermögensgegenstände) scheint das nicht der Fall zu sein - jedenfalls sind mir bislang keinerlei Auslagerungsaktivitäten dazu bekannt.
Posted by Ronald Knecht at 9:39 AM 0 comments
Labels: BaFin, BNY Mellon, Fees, German, Germany, HASPA, Investment Compliance, Outsourcing
Wednesday, October 05, 2011
State Street Announces Acquisition of Complementa Investment-Controlling AG in Switzerland
With this new acquisition in Switzerland, State Street is buying another system vendor for the asset management market within the German speaking market alongside Princeton Financial Systems: Allocare is a wholly-owned subsidiary of Complimenta.
Posted by Ronald Knecht at 12:01 PM 1 comments
Labels: Acquisition, Asset Management, English, Germany, Princeton Financial Services, State Street, Switzerland
Saturday, October 01, 2011
Veränderungen bei MultiFonds?
Gibt es möglicherweise Veränderungen bei MultiFonds? Auf der Web-Seite ist seit einiger Zeit Frau Van Ta, zusammen mit Bertil Rouveure, dem Gründer von MultiFonds (damals noch "IGEFI"), nicht mehr zu finden. Unbestätigten Marktgerüchten zufolge hat Frau Ta zusammen mit einigen Kollegen das Unternehmen verlassen und ihre Unternehmensanteile verkauft.
Posted by Ronald Knecht at 11:47 AM 0 comments
Labels: Fund Accounting, German, IGEFI, Luxembourg, MultiFonds, People, Transfer Agency