SimCorp Signs Nomura Bank (Luxembourg) S.A.
23 April 2009
SimCorp has announced that Nomura Bank (Luxembourg) S.A., head-quartered in Hesperange, Luxembourg, has selected SimCorp Dimension as its future strategic platform for its fund administration and fund accounting activities.
Nomura Bank (Luxembourg) S.A. is part of the Nomura Group, a financial services group headquartered in Japan, and located in more than 30 countries with approximately 26,000 employees worldwide. The Luxembourg office is incorporated as a bank with the objective to create a group entity that offers specialist services in the investment funds industry. Today, Nomura Bank (Luxembourg) S.A. has proven to be one of the most dynamic fund administrators within the Luxembourg financial market.
Following a detailed selection process, Nomura Bank (Luxembourg) S.A. concluded that SimCorp Dimension offered the greatest flexibility and functionality. Furthermore, it was determined that SimCorp Dimension was the only system that was compliant with the advanced requirements concerning accounting and tax calculations for a wide range of financial instruments and complex fund structures. The SimCorp Dimension solution that will be implemented at Nomura Bank (Luxembourg) S.A. focuses primarily on fund administration, fund accounting, tax calculations for a broad range of financial instruments.
Managing Director of SimCorp Benelux, Troels P. Jensen says: “We are very proud to welcome Nomura Bank to our client base in Luxembourg. The benefit of SimCorp Dimension will be provided as the back-bone accounting system for this international group. Luxembourg is a strategic market for SimCorp and this new agreement is an important development for our entry into the Luxembourg fund management market.”