Principal Global Investors has selected CADIS from Citadel Associates as its global data management platform.
Principal Global Investors manages $244.9 billion in assets primarily for retirement plans and other institutional clients and is a member of the Principal Financial Group.
With CADIS, Citadel’s component-based platform for the management of corporate data – version 5 of which was released in September (Reference Data Review, September 2007), Principal Global Investors can benefit from the company’s Investment Solutions Layer approach for handling multiple data sources, the vendor says.
Citadel’s Investment Solutions Layer proposition enables firms to quickly integrate multiple data sources into a single EDM platform. In addition, firms can change accounting systems without the need for significant IT development, allowing them to effectively manage outsourced investment accounting or fund administration.
Stuart Plane, director, Citadel Associates, says: “Firms, particularly on the buy side, face several challenges in handling their corporate data, including the ability to trade new asset classes quickly to gain a competitive advantage. That Principal Global Investors has selected CADIS as its strategic data management platform is a significant endorsement of our ability to help global firms address their EDM requirements.”
During past months Citadel has scored a number of deals with investment managers, including Schroders (Reference Data Review, February 2007) and AMVESCAP, F&C and Canada Pension Plan CPP Investment Board (Reference Data Review, November 2006). Other CADIS users include Newton Investment Management and Aegon Asset Management.