SimCorp builds on the ground presence in South Africa with new Managing Director, Brian Anderson

Press releaseSimCorp, a leading provider of investment management solutions and services to the global financial services industry, today announces its entry into the South African market, with new Managing Director, Brian Anderson. Backed by its supervisory board, SimCorp’s entry in South Africa, will primarily focus on flexibly delivering its modular front-to-back solutions and managed services to local asset managers, state pension funds and sovereign wealth funds. It comes as many buy-side institutions in the market are seeking mature solutions to achieve cost efficient, multi-asset investment operations.The South African buy-side industry is undergoing a transitional phase, as it looks to address a legacy of best of breed solutions and outdated systems. In order to secure future growth and fulfil long-term business outcomes, many firms are now looking to achieve scale and automation in their investment operations. This drive has more recently been accelerated by the $26 billion fiscal stimulus package, the largest in the country’s history, announced by South African President, Cyril Ramaphosa, in response to the economic challenge posed by Covid-19.Local proximity has always been a cornerstone in SimCorp’s global expansion over the years, and the newly established presence in South Africa continues with this approach, supporting expected demand with strengthened local engagement and expertise. Led by new Managing Director, Brian Anderson, SimCorp’s  on the ground operations will further benefit from the scale delivered by its units across Europe and the Middle East, as it engages with a number of identified opportunities in South Africa’s addressable market. This includes direct dialogue with larger asset managers and asset owners, as well as establishing local partnerships, via SimCorp’s successful ‘strategic asset servicing partnerships’ model, to serve the growing wealth management industry.With a substantial background in the investment management market, and expertise in financial software and accounting, spanning over 30 years, Brian Anderson will play a vital role in SimCorp’s South African journey. Both in his last role as Managing Director at FIS in Africa, and in several senior positions held at SunGard, Brian Anderson  has led many operational change management projects, with a firm understanding of business strategy and growth acceleration. He will report into Hans Otto Engkilde, Senior Vice President & Managing Director, UK, Northern Europe and Middle East.
Hans Otto Engkilde, Senior Vice President & Managing Director, UK, Northern Europe and Middle East, at SimCorp, comments: We are pleased to announce our move into South Africa and the arrival of Brian Anderson. The entry into South Africa comes at an important time in the country’s history, where there is a growing  desire from local firms, for consolidated solutions that can truly support asset growth. We believe SimCorp’s modular front-to-back design and multi-asset coverage can deliver the operational efficiency and flexibility needed, to achieve that growth. At the same time it enables SimCorp to broaden its global reach and will play a significant role in furthering our strategic growth ambition.”Brian Anderson, Managing Director of SimCorp South Africa, comments: “It is with great pleasure that I join SimCorp and lead its South African operations. The value of SimCorp’s consolidated solutions and managed services offer the South African market great growth potential and at a critical time, where outdated, legacy and point solutions are no longer fit for purpose. Having been immersed in the financial software industry locally for many years, I look forward to leveraging my broad knowledge and experience on the critical investment challenges asset owners and managers face today, and engaging with firms to demonstrate how these obstacles can be overcome with successful operational change.”Enquiries regarding this announcement should be addressed to:
Mittal Shah, SimCorp PR UK/North America /Asia Pacific +44 (0)207 397 8072 mittal.shah@simcorp.comAbout SimCorp
SimCorp provides integrated, best-in-class investment management solutions to the world’s leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers, central banks, sovereign wealth funds, and treasury. Regardless of how you deploy it, SimCorp’s core solution, SimCorp Dimension^®, and its life-cycle services support the entire investment value chain and range of instruments, all based on a market-leading IBOR. SimCorp invests around 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on Nasdaq Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.