Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC, NYSE: TOC), today announced the acquisition of eXimius NV from Business Architects. Financial terms of the acquisition were not disclosed.
The acquisition builds on Thomson Financial and Business Architectsâ existing partnership announced in June 2006. It will enable the seamless integration of Thomson Financialâs industry-leading wealth management and investment management capabilities with the eXimius front-office private client investment management application, and will allow Thomson Financial to offer a fully-integrated front-office solution for private banking and wealth management clients around the world.
The eXimius management team and its 36 employees, based primarily in Belgium and the UK, will join Thomson Financial and will continue to sell and develop this industry-leading workflow solution for the private client investment management community.
Donal Smith, President, Europe & Asia commented: âWe are pleased to build on the success of our agreement with Business Architects, and welcome eXimius to Thomson Financial. eXimius will significantly extend our capabilities to serve private client investment managers in Europe and Asia, whilst presenting an exciting opportunity to extend our offering in the US private banking and private client investment management market, where Thomson Financial already has market leading solutions serving the retail private wealth community.â
âThe combination of Thomson Financialâs global reach, market leading content and trading applications with the eXimius front office application will enable us to provide an unmatched service that can be tailored to meet the requirements of private client investment management clients around the world,â concluded Smith.
Franky Van Damme, Founder and Chief Executive Offices of Business Architects International commented: âWe are proud of the success of the eXimius product and its people; joining Thomson Financial is a worldwide acknowledgement of their achievements. This strategic move will allow eXimius to continue its product strategy and to become a key market player, whilst extending its geographical coverageâ.
The integration of Thomson ONE investment decision-support services with eXimiusâs front office application will create a unique proposition for the private client investment manager, helping address critical business drivers such as:
â¢ Providing enhanced performance for private clients through access to market-leading research, content and portfolio management and analysis tools
â¢ Maximising the effectiveness of client facing activities, with integrated customer relationship management tools
â¢ Ensuring compliance at all levels (regulatory, firm, customer preferences)
â¢ Providing strategic wealth management services to a global client base, through multi-language, multi-company and multi-currency capabilities
â¢ Effectively managing risk and extending decision support with controls such as performance attribution and rebalancing tools
The global private client investment management market, which Thomson Financial estimates is a $1 billion opportunity with annual growth between five and 10 percent, is going through tremendous change. Global financial institutions are aggressively investing to grow their private client advisor offering, and in turn regional and local players need to differentiate their services and maximise efficiency. Across the board, the needs of private clients continue to increase in complexity, leading the PCIM community to demand technology solutions that are transparent, reliable and provide high service levels. In addition, ever-increasing regulatory requirements, including MiFID in Europe, present an opportunity for the adoption of new systems that can better allow private client investment managers to meet these regulatory requirements in a cost effective manner.