Nordea Life and Pension is seeking to increase operational efficiencies after a deal with SimCorp, an asset management technology provider.
The deal sees Nordea Life and Pension’s use SimCorp’s Dimension system across its front-to-back office investment management operations.
Soon to be known as Velliv, the Nordea Life and Pension is preparing to operate as a separate entity to its parent group, Nordea, which is the largest financial services group in the Nordic region with assets of around €581.6 billion.
Nordea Life and Pension itself has around €23.5 billion of assets under management and the firm will implement SimCorp’s Dimension system on a five-year licence.
Anders Stensbøl Christiansen, chief investment officer at Nordea Life & Pension, said Nordea Group had used Dimension for a number of years and that it would increase value for clients.
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