The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Aegon Asset Management Taps Citadel Cadis for Data Platform

Aegon Asset Management UK Ltd. has implemented Citadel Associates’ Cadis Data Management Platform (DMP). The Scotland-based investment management firm will use DMP in support of its outsourced securities administration and fund accounting functions, which are handled by Citigroup’s Global Transaction Services group, as well as for its own core business activities.

Cadis now supplies Aegon all data for the portfolio and trade order management process. This entails managing and enhancing corporate data from Icon, the accounting system currently in use at the investment firm, as well as information sourced from Bloomberg, FactSet, Merrill Lynch and Deutsche Bank.

The implementation took under six months, following a selection process that evaluated five leading data solution products. Aegon says Cadis was selected based on its business-focussed user interface, ease of implementation, ability to build in phases, and fit with Aegon’s technical architecture.

Aegon took a phased approach to the implementation, which was undertaken by Aegon and Cadis staff. Phase I, completed in November, replaced Aegon’s front-office data infrastructure, across all asset classes.

Future phases will incorporate the performance area, other key transaction processing solutions and implementation of the Cadis Investment DataBlock (IDB) to support Aegon’s enterprise-wide reporting and analytics requirements. DataBlock is a database designed to store reference, historical portfolio, transactional and client data. In the future, Cadis will also be used to support and manage data to and from Citigroup’s Multifonds system, allowing seamless fund migration.

Aegon Asset Management UK manages around £39 billion on behalf of institutional, insured and retail-fund clients. It employs over 200 people at its Edinburgh head office. Other clients Citadel Associates include Russell/Mellon (Reference Data Review, April 2005), Newton and Insight Investments (Reference Data Review, August 2005). The vendor also recently added an interface to corporate actions announcements from London-based Exchange Data International (EDI) to the Cadis DMP (Reference Data Review, January 2006).

Related content

WEBINAR

Recorded Webinar: Adverse media screening – how to cut exposure to criminal activity, from money laundering to human trafficking

Screening for adverse media coverage of counterparties presents an incredible opportunity for financial institutions to limit risk exposures and identify bad actors early. It is required by regulations such as the EU’s sixth Anti-Money Laundering Directive (AML 6), and is one of the most effective ways to steer clear of potential connections with sanctioned activity...

BLOG

PassFort Raises $16.2 Million to Fund Expansion

Financial crime compliance automation specialist PassFort has raised $16.2 million through its recent Series A funding. The company, whose SaaS-based platform automates financial crime and compliance processes, will use the funds to realise its global growth plans. The funding round was led by the US growth equity fund, Level Equity, with participation from PassFort’s existing...

EVENT

Data Management Summit Europe Virtual (Redirected)

The Data Management Summit Europe Virtual brings together the European data management community to explore the latest challenges, opportunities and data innovations facing sell side and buy side financial institutions.

GUIDE

Regulatory Data Handbook 2021/2022 – Ninth Edition

Welcome to the ninth edition of A-Team Group’s Regulatory Data Handbook, a publication dedicated to helping you gain a full understanding of regulations related to your organisation from the details of requirements to best practice implementation. This edition of the handbook includes a focus on regulations being rolled out to bring order and standardisation to...