Pimco “breaks down” front-to-back office inefficiencies with fintech backing

Dirk Manelski, chief technology officer of asset manager Pimco, said the firm is building its “future middle and back-office systems” after adopting the trade lifecycle management platform of a fintech firm, Hub.

Through Hub, Pimco’s data will connect across its post-trade and client reporting functions.

Pimco will initially use Hub Trade, which manages trades through the stages of the trading lifecycle and enables connectivity with any market participant, according to Hub.

The asset manager will also use Hub Data, which delivers “a stream of governed investment data to support the scaling of Pimco’s client reporting capabilities”.

As a fintech platform, Hub builds connectivity between data and trading to “optimise the investment industry’s operations technology”, enabling AI and automation, Hub said.

Manelski said: “With the Hub partnership we are building our future middle and back-office systems on a common platform with common infrastructure, services and data models. We are also breaking down the arbitrary separation of front, middle and back-office systems and processes that has long created inefficiencies in financial markets.”

Paul Taylor, CEO of Hub, said the win was a milestone for the fintech company.

“This ‘go live’ represents a fantastic opportunity for the investment management industry to begin the journey of reimagining its operating model,” he added.

Hub said its products are delivered using a flexible, modular approach that “lowers entry costs and enables the industry to quickly deliver innovative solutions”.

As well as from Pimco, Hub also has backing from Man Group, S&P Global, Microsoft and State Street. 

© 2023 funds europe

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