The transition will begin in Q2 2025 and will be made up of phases over several years.

Aladdin supports the entire investment management process across asset classes.

Franklin Templeton confirmed the move will help it to unify its platform across asset classes as well as simplify its operations and reduce any long-term capital expenses.

It will also allow it to access an investment book of record via a single platform to “enable scale, provide insights and support business transformation”.

Several other asset and investment managers are either in the process of transitioning or have recently transitioned onto the Aladdin platform in the last year, according to sources familiar with the matter, with other similar announcements  planned for the coming months.

Amongst them is Royal London Asset Management which streamlined its workflows through the migration from two separate order management systems (OMS) to BlackRock’s Aladdin in December last year.

The post Franklin Templeton taps BlackRock’s Aladdin for OMS appeared first on The TRADE.

Emily Portney

The agreement will see AIA implement BlackRock’s end-to-end investment management and operations platform Aladdin, alongside BNY’s specialised investment operations and data management services technology – together providing AIA with an end-to-end solution with enhanced data and analytics capability.

Emily Portney, global head of asset servicing at BNY, said: “We are proud to support AIA in enhancing their investment platform with a new data-driven operating model that will deliver critical insights, elevate the client experience and improve operational efficiency. We are also excited to continue our ongoing collaborative work with BlackRock, to deliver best-in-class solutions for our mutual clients.” 

Headquartered in Hong Kong, AIA Group has a presence in 18 markets across Asia – and has total assets of $286 billion as of 31 December 2023.

Read more: BNY Mellon and BlackRock sign alliance to create front-to-back office data service

Mark Konyn, AIA Group chief investment officer, said, “This strategic collaboration brings our long-term investment programme together with an enhanced ability to deliver industry-leading investment solutions and provide positive, sustainable outcomes for our stakeholders. 

“As we work with BlackRock and BNY to transform our platform, AIA will continue managing our growing investment portfolio at greater scale to meet our performance, risk management and sustainable investment goals. With the solutions we are implementing, AIA will gain a single, consistent, and timely view across all asset classes allowing us to make even more informed investments across complex market environments.”    

BNY and BlackRock first agreed a strategic partnership back in 2019, with a view to providing mutual clients with real-time data insights through the investment lifecycle. The partnership was then extended in 2021 to give clients greater freedom of choice around middle-office services. 

Commenting on the new mandate, Rob Goldstein, chief operating officer at BlackRock, said: “We are thrilled to engage with AIA to deliver the breadth of Aladdin across AIA’s whole portfolio, including public and private assets, along with the ability to support insurance-specific needs. We look forward to working with BNY to deliver a seamless experience to AIA.”

BlackRock’s Aladdin collected the Outstanding Trading Technology Provider award at The TRADE’s 2023 Leaders in Trading awards in London last November. This year’s event is set to take place on 7 November at the Savoy Hotel, more details here.

The post BNY and BlackRock collaborate on front-to-back mandate with AIA appeared first on The TRADE.

Keith Viverito

Viverito joins Clearwater as managing director for EMEA and will be responsible for strengthening the firm’s go to market strategy in the region and Asia Pacific.

“The success the Company has already achieved with significant wins across these markets where Clearwater displaced legacy competitors provides a very strong foundation for growth,” said Viverito in a statement.

He joins after most recently spending two and a half years at BlackRock’s flagship Aladdin platform, serving as a managing director and leading its business development efforts across EMEA.

Prior to joining Aladdin in 2021, he spent nearly seven years at IHS Markit in a sales and solutions role for EMEA, two and a half years at FactSet as its global head of sales and seven and a half years at Thomson Reuters as its head of sales for the Americas.

Earlier in his career, Viverito spent three years as a trader at Great Point Capital.

“Keith has a deep understanding of our industry and is a perfect fit to lead Clearwater’s expansion internationally,” said Sandeep Sahai, CEO at Clearwater Analytics.

“While he started his career in North America, he has spent over a decade in Europe and brings a unique perspective to our team. We look forward to his contributions as we expand globally, foster innovation across our comprehensive suite of product offerings, and achieve long-term success in EMEA and APAC.”

The post BlackRock Aladdin business development executive joins Clearwater Analytics appeared first on The TRADE.