SimCorp and State Street extend investment servicing relationship in Germany

Copenhagen – March 8, 2024 – SimCorp announced today that State Street Bank International GmbH (SSBI) has agreed to expand and extend its partnership with SimCorp.

Under the agreement, SimCorp will supply key technology components to SSBI for its accounting servicing, fund administration and data processing services that are provided predominantly to Asset Managers in Germany (KVG clients), including platform enhancements for Corporate Actions and processing of reference and market data.

Additionally, SSBI will also leverage SimCorp’s Alternative Investments Manager solution that will further enhance SSBI’s accounting capabilities for Alternative Investments and provide highly automated Intelligent Document Processing for its KVG business in Germany.

We have a longstanding partnership, and we look forward to continue supporting State Street with solutions that can deliver valuable insights and outcomes. This latest expansion is testament to the strong collaboration between SimCorp and SSBI in Germany over the last few years.

Ralf Schmücker, Managing Director for EMEA at SimCorp

SimCorp’s built-in Corporate Actions data validation capability will support SSBI driving further operational efficiencies by enabling straight through processing and automating the collection of all announcements from custodians, brokers, vendors, and exchanges via robust and intuitive interfaces.

“We are very pleased to strengthen our relationship with State Street Bank International GmbH,” states Ralf Schmücker, Managing Director for EMEA at SimCorp.

“We have a longstanding partnership, and we look forward to continue supporting State Street with solutions that can deliver valuable insights and outcomes. This latest expansion is testament to the strong collaboration between SimCorp and SSBI in Germany over the last few years.”

“We are pleased to extend our relationship with SimCorp. These additional technology solutions will further automate our existing solution sets and reaffirm our position as the leading fund administrator in the German market,” says Stephan Scholl, head of Investment Administration Insourcing Services at State Street Bank International GmbH. 

These additional technology solutions will further automate our existing solution sets and reaffirm our position as the leading fund administrator in the German market.

Stephan Scholl, Head of Investment Administration Insourcing Services at State Street Bank International GmbH

SimCorp and State Street Bank International GmbH first entered into partnership in 2005. Beyond expanding the platform capabilities, the terms of the partnership have been extended with the current SaaS agreement now spanning an additional three years.

About SimCorp

SimCorp is a provider of industry-leading integrated investment management solutions for the global buy side. 

Founded in 1971, with more than 2,800 employees across five continents, we are a truly global technology leader who empowers 40 of the world’s top 100 financial companies through our integrated platform, services, and partner ecosystem. 

SimCorp is a subsidiary of Deutsche Börse Group.

For more information, see www.simcorp.com.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $41.8 trillion in assets under custody and/or administration and $4.1 trillion* in assets under management as of December 31, 2023, State Street operates globally in more than 100 geographic markets and employs approximately 46,000 worldwide.

For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of December 31, 2023 includes approximately $64 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Media Contact:

Søren Rathlou Top, Global PR & Communications Manager, SimCorp
Tel: +45 31 15 87 06
Email: [email protected]