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Successful First Phase for Schroders

Schroders, the global asset management company with £139.1 billion under management as at 31 December 2007, has gone live following the successful completion of phase 1 of the implementation of its SimCorp Dimension investment management system. “We are very pleased with the implementation so far,” says Matthew Oakeley, Head of Group IT at Schroders. “We have gone live with this hugely complicated first phase on time, as planned.”

The SimCorp Dimension system is to act as Schroders’ portfolio book of record for its UK and USA operations that are based in London. In the first phase (of three), the main IT architecture has been implemented and a first tranche of portfolios have been migrated to the SimCorp Dimension system. The project started in the fourth quarter of 2006. The system was configured and integrated with the existing production environment and testing began in September 2007. The first phase was completed and went live in March 2008 as planned.

“An important factor in the success of this project has been the very close working relationship between Schroders and SimCorp. We’ve benefited significantly from the skills and dedication of the SimCorp team and the level of teamwork achieved,” said Oakeley.

Schroders selected SimCorp Dimension because it provides the best all round fit for its business’s functional needs and strong support for derivative instruments. The firm was also impressed with SimCorp’s philosophy and management of product development.