5 Dec 2011
Advent Software, Inc., a leading provider of software and services for the global investment management industry, is to collaborate with Applicon, a Northern European service provider to financial institutions, in order to implement its investment management solution in the Icelandic market.
According to the OECD’s 2011 Economic Survey of Iceland, the economy, including the asset management sector, has recovered since the 2008 crisis. Advent and Applicon chose the opportunity to work together given the current trends in the Icelandic investment management industry, particularly local demand for more sophisticated investment management solutions, heightened focus on operational risk and increased regulatory reporting and compliance requirements.
Håkan Valberg, senior vice president and general manager, Advent Software EMEA, said: “We are very committed to Iceland. We have been serving clients in Iceland since 2005, and we were looking for a local services provider to bring our clients additional local knowledge and industry expertise. Applicon has a long-standing presence in the Icelandic market, which will help us bring this local support to our clients and respond to their specific requirements.”
According to the OECD’s 2011 Economic Survey of Iceland, the economy, including the asset management sector, has recovered since the 2008 crisis. Advent and Applicon chose the opportunity to work together given the current trends in the Icelandic investment management industry, particularly local demand for more sophisticated investment management solutions, heightened focus on operational risk and increased regulatory reporting and compliance requirements.
