London, October 2, 2001... Financial Models Company Inc. (FMC), a leading provider of technology solutions and services to the investment world, and PGGM, one of the largest pension funds in the world, today announced that PGGM has transitioned from its internal system to FMC’s integrated asset management application suite – FMCTrade™, FMCPacer™, FMCRecon™ and FMCNet™. The transition was flawless and was completed within 6 months, a near record time for a transition of such size from an in-house to external system.
"PGGM had clearly identified goals and had company-wide support for adopting one single-structured messaging policy across all systems," said Phil Banas, managing director, Financial Models Corporation Limited, FMC’s European subsidiary. "PGGM set up a multi-disciplinary team that worked methodically and effectively with FMC’s implementation team to complete the transition in near record time."
"Our goal was to get the new system up and running quickly, without disrupting our day-to-day business operations," said Alfred Slager, project manager, PGGM. "Now our back-end processes are streamlined and standardised, which allows us to provide more reliable, comprehensive and timely information for our asset management activities."
PGGM recognised the need to standardise and integrate their internal systems, and to establish messaging protocols to external counter-parties. PGGM purchased FMC’s integrated asset management application suite in October 2000.
As a result of the successful implementation, PGGM also purchased FMCSylvan, FMC’s powerful multi-currency performance measurement and attribution system, along with FMCIndices and Security Level Attribution. FMCSylvan will complement PGGM’s current suite of FMC products by providing detailed performance analyses for PGGM’s management and client services.
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