Canadian investment manager extends use of fully managed buy-side solution
Fidessa group plc (LSE: FDSA) today announced that Fiera Capital Corporation (“Fiera Capital”) (FSZ.TO), a leading independent Canadian investment manager, has deployed Fidessa’s investment management system (IMS) across its fixed income operations. The managed service, which includes compliance, order management, portfolio management and connectivity, has enabled Fiera Capital to quickly scale its fixed income business and accelerate time to market in a cost-effective manner. Derivatives will follow later this year.
Fidessa’s IMS provides a single, harmonized workflow platform across business lines, geographies and asset classes. It allows investment managers to run their businesses in an efficient, transparent and operationally robust manner, while having the reliability and functionality to respond quickly to business change.
The managed service significantly reduces operational complexity and costs for Fiera Capital, which manages more than $86 billion CAD in assets, by removing the need for internal resources to maintain and upgrade technology infrastructure, manage hardware requirements and oversee disaster recovery. This means Fiera Capital can run its FIX engines and other connectivity components in Fidessa’s data centers and enables it to benefit from the latest technical and functional enhancements.
Commenting on the news, Maher Hemissi, Vice President, IT and Middle Office at Fiera Capital, said: “We are diversifying and expanding our investment services in order to meet our clients’ objectives and selecting the right technology platform to underpin this broader operation is very important. We have worked with Fidessa for over a decade and their technology has been instrumental in supporting our ambitious North American growth plans and asset class expansion.”
Megan Costello, President of Fidessa's North American Buy-side business, added: “There is increased pressure on the buy-side to optimize execution, achieve alpha and manage risk and compliance while controlling costs. With Fidessa’s managed service, Fiera Capital has been able to accelerate its plans for growth by stripping away the day-to-day complexity and expense of managing its enterprise technology infrastructure, leaving the firm to focus on managing client assets and delivering value.”