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Aegon AM taps Markit for global data management
09 July 2013
UK relationship extended globally
Aegon Asset Management has announced it is to extend its data management partnership with Markit to its global operations.
Aegon Asset Management said it would build on its existing UK relationship with Markit and roll out the firm's Enterprise Data Management (EDM) platform, formerly known as Cadis, to support its data management across the business.
Keith Rake, global COO of Aegon Asset Management said: “We’ve been a Markit EDM customer for over seven years via Kames Capital in the UK. The value already being delivered to the UK unit from its implementation convinced our US and Dutch operations that it was the best choice for our long-term global data management strategy.”
As well as acting as data manager for Kames Capital in the UK, previously known as Aegon Asset Management UK, Markit EDM also acts as Investment Book of Record (IBOR) and historical reporting database.
Aegon said it would deploy Markit's EDM services in Aegon USA Investment Management (US), Aegon Asset Management (Netherlands) and TKP Investments (Netherlands).
Daniel Simpson, managing director and head of Markit EDM, said the push to create “a centralised data hub in order to gain a consistent view of data across the organisation” was a key trend among buy-side firms.
“Aegon Asset Management is operating in four different regions, each with its own data management challenges. We’re looking forward to expanding our relationship with Aegon Asset Management and enabling them to take a best practice approach to streamline their operations, take control of their data and reduce costs.”