Santander Asset Management has adopted Aladdin, BlackRock’s operations system for investment managers, as part of its digital transformation.
According to Santander AM, the system will allow greater consistency, efficiency and operational scale, as well as provide clients with more transparent risk/return analysis and improved reporting.
Aladdin competes with SimCorp Dimension, the other main asset management operational system. Asset manager Amundi has since entered the market with its proprietary Alto system, having migrated Pioneer Investments from Aladdin following acquisition.
Santander AM highlighted that Aladdin had accelerated its digital transformation so that this was completed on time despite the Covid-19 crisis.
The implementation of Aladdin is also on schedule to be completed in the 10 Latin American markets where the fund manager is present.
Sudhir Nair, the global head of Aladdin at BlackRock, said: "Transparency into risk has never been more important and we are pleased to offer technology that can help Santander navigate the market on behalf of its clients.”
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