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WCM Investment Management Cuts Reconciliation Time with Gresham Managed Services

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WCM Investment Management has cut reconciliation time by two-thirds after tripling assets under management (AUM) over the past three years by using Gresham Technologies cloud-based managed services to aggregate data from more than 55 custodians and reconcile positions, transactions, cash and foreign currencies across 1,500 accounts and 2,500 cash buckets.

WCM, an independent fund and investment manager, extended an existing relationship with Gresham in 2019, adding managed services with a view to keeping its operations team lean and efficient. Since then, the partnership has played a role in enabling WCM to scale from managing $30 billion AUM at the end of 2018 to $107 billion at the end of 2021.

“As our business underwent a period of significant growth, we found the increased volume and complexity of data and reconciliations was putting more and more stress on our operations team, which would have meant adding headcount,” says Julianna Jones, operations manager at WCM. “Using Gresham’s managed services we are predicting another 50% reduction in reconciliation time, down to 15 hours per week. This is due to Gresham’s team always finding more ways to improve our processes as we grow and expand into new markets.”

Prior to its partnership with Gresham, WCM was challenged with an infrastructure combining a portfolio management system and manual spreadsheets storing data. To overcome this challenge, WCM initially implemented Gresham’s Control for investment management and Data Services back in 2013, when the firm was managing less than $3 billion in assets.

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