(London. January 27, 2006) â Citadel Associates, a leading provider of financial software to the global financial services industry, today announced that Aegon Asset Management UK Ltd has implemented its CADIS Data Management Platform (DMP) in less than 6 months. Aegon Asset Management UK Ltd will use CADIS DMP to support its outsourced securities administration and fund accounting functions provided by Citigroup Global Transaction Services, as well as Aegonâs core business activities.
The selection process encompassed the detailed evaluation of five leading data solution products. The choice of CADIS was based principally on its business focussed user interface, ease of implementation, ability to build in prioritised phases and its fit with Aegonâs technical architecture.
"It was important for us to retain control of the data in our architecture regardless of the administration source. CADIS allowed us to do this quickly as well as providing the longer term aim of exposing the business logic to our Data Management team rather than just the development team." - AEGON Asset Managementâs Director, Securities Management Christophe Ferrand.
The project commenced in July 2005 with a 1st phase objective to completely replace the existing front office data infrastructure, encompassing all asset classes; CADIS configuration for this phase was completed in early November 2005. Managing and enhancing corporate data from Icon, the current accounting system, Bloomberg, Factset, Merrill Lynch and Deutsche Bank, CADIS now supplies all data for the portfolio & trade order management process.
The implementation of CADIS was undertaken by Aegonâs business analysts, developers and IT operations staff with supplementary implementation, best practice and training support from CADIS consultants.
Future phases of the project will incorporate the performance area, other key transaction processing solutions and the implementation of the CADIS Investment DataBlock (IDB) to support its enterprise-wide reporting and analytics requirements. CADIS will also be used to support and manage data to and from Citigroupâs Multifonds system, allowing seamless fund migration.