Lord Abbett Implements SimCorp Dimension to Gain Long-Term Operational Efficiencies
SimCorp announced that it has partnered with Lord Abbett, a U.S. asset management firm, to support the firm’s growth initiatives for its institutional products and international operations. Lord Abbett manages approximately $130 billion in assets across a full range of mutual funds, institutional, and separately managed accounts.
As a firm that is investment-led and investor-focused, Lord Abbett is dedicated to delivering superior long-term investment performance and providing a client experience that exceeds expectations. The firm seeks to achieve a leadership position in the various markets it serves. Additionally, Lord Abbett is expanding its international presence by growing its array of offshore products and building its international institutional client base.
Requiring a scalable solution to support the growth of its products and business, Lord Abbett selected SimCorp Dimension for its ability to process a wide range of security types. These advantages will enable Lord Abbett to introduce new products to the market more rapidly, with the added confidence that its operational systems will be able to handle a range of strategies, all while meeting ever-evolving regulatory requirements.
“Over the past several years, Lord Abbett has undertaken a number of key initiatives in order to serve the changing needs of our clients, address the evolving challenges of the markets, and position our firm for long-term growth,” said Joan Binstock, Partner, Chief Financial and Operations Officer. “Working with SimCorp has enabled us to gain important efficiencies in our investment process, while establishing a strong foundation that will allow us to support new investment products in the future.”
James Corrigan, Managing Director of SimCorp North America, commented, “Lord Abbett has a strong strategy behind its upcoming initiatives, and we are pleased to partner with them as they prepare the business for the future and embrace technology as an enabler of growth.”