Aim Software, a European provider of reference data management solutions to the financial industry, today announced that it has opened a subsidiary in Luxembourg to better serve the Benelux market and provide its existing and future customer base with an extended local service. The office opening in Luxembourg together with the strengthening of the activities in France is a cornerstone of the Aim growth programme for 2009.
The decision to establish a fully staffed local presence was driven by the increasing demand for golden copy management systems that Aim Software has been facing since its direct market entry in 2008. As a consequence, the Aim customer pool in Luxembourg has expanded considerably and today includes institutions like Clearstream Deutsche Börse Group, European Fund Administration, Banque de Luxembourg or RBC Dexia Investor Services.
In a first phase, the office will be staffed with three persons who will primarily perform the following functions: account management and sales, business analysis, project managing and support. Next year the direct implementation team is set to grow further with major mandates in 2010.
On the basis of a stronger local presence, Aim Software is committed to further increase its golden copy customer pool in the region. Gain Golden Copy, Aim Software’s flagship product, offers connectivity to more than 15 data feeds as well as a strong rule framework to implement business logic for the management of prices, static data and corporate actions. One of the major strengths of the system are the industry packages for private banking, asset management, fund administration and custody that provide a model parameterisation which has proved to substantially reduce the project duration.
“The local office will help us achieve even greater proximity to our clients,” explains Josef Sommeregger vice president of business development and sales. “With the decision for Luxembourg as the place for the third strategic hub in the Aim network, we also want to show our commitment to our important customer base in the region, being able to offer even faster and more effective support and project related services.“
“The new regional office is a decisive step in our global growth strategy,” adds Martin Buchberger, head of marketing and sales. “This expansion that will help us to further strengthen our leading position on the Benelux market and even better serve our existing client base.”