TMS2000 will replace all existing operational support systems of the two businesses. Selection of the SimCorp system was made after an extensive review of the market that took over a year and the involvement of independent consultants.
"Having reached a certain size," explains Patrick Fauchier, Chief Executive of Fauchier Partners and Bernard Dennery, Managing Director of BNP Paribas Fauchier Partners, "we realised our various existing systems were not giving us optimum efficiency. TMS2000 will move us from first to third generation and provide us with a scalable system which will support our needs now and our future growth."
Kjell Nordgard, managing director of SimCorp Limited, adds, "There has been a surge in interest in alternative investments in the last few years and both Fauchier Partners and BNP Paribas Asset Management have been at the forefront of this market. This asset class presents unique operational challenges as volumes grow, which require support from highly flexible and efficient systems. We at SimCorp are delighted that Fauchier Partners and BNP Paribas Fauchier Partners have selected TMS2000 after such a thorough review of available systems".
Implementation of TMS2000 will be completed in the Spring of 2003.