Major asset manager in Japan’s pension market simplifies operating model with Charles River’s Software as a Service (SaaS)-based platform for Front and Middle Office
Resona Bank Ltd., a subsidiary of Resona Holdings, Inc., has begun implementation of the Charles River Investment Management Solution (Charles River IMS) for its front and middle office operations. The Charles River IMS provides Resona Bank with a single enterprise platform for managing its equity, fixed income, FX and derivatives investments. Charles River provides all support services out of its Tokyo office, including technical support, SaaS operations and project management. Resona Bank’s deployment is one of Charles River’s major Japanese SaaS implementations in 2017.
“Charles River has demonstrated its long term commitment to the Japanese market with local resources and capabilities supporting our most sophisticated trading processes,” said Yoshiaki Izuka, Chief Manager of Asset Management Business Planning Division, Resona Bank. “Additionally, because Charles River IMS is a SaaS platform with strong support for all asset classes, we are able to reduce costs by consolidating end user computing tools and standardizing our workflows.”
More than 100 Resona Bank portfolio managers, traders, compliance and operations staff will ultimately use the Charles River IMS throughout the investment lifecycle. Portfolio managers will have multi-dimensional views of their portfolios with integrated performance measurement, attribution, risk analytics and scenario analysis. In addition, the Charles River IMS provides the bank with multi-asset order and execution management (OEMS) and trade compliance monitoring as well as automated transaction cost analysis (TCA) and post-trade matching & settlement instruction. Charles River IMS’s Investment Book of Record (IBOR) will reduce reliance on back office systems in managing position and reconciliation functions, with seamless API-based integration to Resona’s accounting system. Data and FIX connectivity are also provided and managed by Charles River.
“Charles River has invested heavily to develop a strong local presence in Japan including support, operations, and implementation teams in response to the continued growth in our domestic Japanese client base, and the increasing demand for our SaaS based solution,” said Cameron Field, Managing Director-APAC, Charles River. “We are working actively with Resona and other major Japanese firms who have made the strategic decision to adopt our SaaS solution, to ensure the platform stays up to date, simplify their operations, and reduce costs.”
Resona Bank, Ltd. is a core subsidiary of Resona Group, one of the largest financial institutions in Japan