SimCorp Targets Accelerating Growth in Australia with New Country Manager

Sydney, Copenhagen – January 16, 2024 – Provider of investment management solutions SimCorp announces the appointment of Enzo Cotroneo as Country Manager for Australia. In this role, Cotroneo will primarily focus on business development and setting the strategic direction for SimCorp’s continued growth in Australia.

With over 25 years of experience in the financial services industry, including prominent roles at some of the world’s largest financial institutions, Cotroneo brings a deep understanding of the technological needs to thrive within institutional investment management in the market he is set to oversee. 

Based in Sydney, Cotroneo possesses extensive leadership capabilities that will play a pivotal role in driving SimCorp’s expansion in Australia. SimCorp has been present in the Australian market for more than two decades and has established partnerships with some of the country’s leading asset owners and asset managers. 

"Australia plays a crucial role in SimCorp's growth strategy, and we are committed to expanding our presence in this dynamic market. Leveraging his extensive expertise in the financial services industry, Enzo brings a wealth of knowledge and experience, coupled with a profound understanding of our clients and the industry landscape,” comments Edward Bee, Managing Director for APAC Region at SimCorp.

Cotroneo joins SimCorp from a senior leadership position at HSBC. Prior to HSBC, Cotroneo held prominent positions at Citi and JP Morgan.

The ongoing consolidation in Australia’s superannuation industry presents promising opportunities for best-in-class technology providers like SimCorp, as advanced technology and data become a critical lever in supporting these larger funds.

Enzo Cotroneo, Country Manager for Australia at SimCorp

Australia is home to the third-largest pension pool in the OECD area.

Under the recommendation of the Australian Prudential Regulation Authority (APRA), the superannuation fund industry has accelerated its consolidation drive over the past few years. In the period spanning 2010 to 2021, there was a significant reduction from 389 to 179 funds and today, they stand at around 120.

With the promises of economies of scale, reduction of operational costs and more diversified investment portfolios, M&A activities are expected to continue. Interestingly, the vast majority of assets are concentrated in a handful of mega-funds that have been aggressively looking for scale.

“The ongoing consolidation in Australia’s superannuation industry presents promising opportunities for best-in-class technology providers like SimCorp, as advanced technology and data become a critical lever in supporting these larger funds. As the industry matures, we expect a lot more strategic conversations around target operating models that enable greater focus on core business. This entails data, seamless processes in the full investment value chain, redeployment of scarce resources as well as access to continuous innovation,” says Enzo Cotroneo, Country Manager for Australia at SimCorp.

Strategic joint venture with Australian investment manager 

SimCorp and the Australian investment management firm Challenger established Artega Investment Administration, a strategic joint venture based in Sydney, in 2022.

Artega harnesses the complete technology and service stack provided by SimCorp, delivering technology-driven services for investment management. These services encompass front, middle, and back-office solutions tailored for investment managers and asset owners in Australia.

Artega has successfully onboarded several specialized investment managers, such as Alphinity Investment Management, OX Capital Management, and Bentham Asset Management.

“As we continue our strategic expansion throughout Australia, I am confident that, with Enzo Cotroneo’s leadership and the backing of SimCorp’s global organization, we have established the optimal foundation to accelerate our growth in the market,” comments Edward Bee.

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.

Media Contact:

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