As part of its international expansion and globalisation process, SimCorp, a leading supplier of investment management and treasury management systems for financial institutions and corporates, has opened two new subsidiary offices: one in the United States; the other in Germany.
Based in New York, SimCorp USA Inc. is responsible for marketing SimCorp’s IT/2 treasury management system as well as strengthening the support of its North American IT/2 customers in corporate treasuries. IT/2 is a powerful and comprehensive tool, providing an integrated system that facilitates the effective management of deals, cash and risks. From the outset, the subsidiary has a customer base of approximately 25 installations in larger corporations in the US and Canada.
Peter Sørensen, M.Sc (Econ.) has been appointed president of SimCorp USA Inc. and a number of experienced consultants from SimCorp in the UK and Denmark will be seconded to the US. SimCorp will also recruit local staff with comprehensive expertise within the corporate treasury field.
A second German subsidiary office has been established in Munich, the capital of Bavaria, to enable SimCorp to offer enhanced local support for its expanding TMS2000 customer base, which includes organisations such as Lfa Förderbank Bayern and MEAG Securities Management. TMS 2000 is a comprehensive and truly integrated, straight through processing system, which fully supports investment management and administration.
Petra Dreier, with a degree in mathematics and seven years systems implementation and consultancy experience, has been appointed head of branch. Her initial team of three is expected to increase to at least eight employees over the next year.
With headquarters in Copenhagen, SimCorp also has offices in Weybridge, London, Frankfurt, Oslo, Stockholm and Benelux. Its USA and Munich offices are situated on SimCorp USA Inc., 885 3rd Avenue, Suite 2900, New York, New York 10022 and SimCorp GmbH, Noederlassung München, Belgradstraße 9, D-80796 München, respectively.