--- title: BMO Takes on SimCorp description: BMO Takes on SimCorp --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/bmo-takes-on-simcorp#popup-newsletter) #### Want the latest news on securities markets -- FREE? 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On February 1, BMO Asset Management, the $90 billion investment management division of Bank of Montreal Financial Group—Canada’s fourth largest bank—has agreed to sign on SimCorp Dimension to support its investment operations in Toronto, Canada, Chicago, Illinois, and Milwaukee, Wisconsin. SimCorp, founded in 1971, is a global provider of investment and portfolio management software and services and it publicly traded on the Nasdaq OMX Copenhagen exchange. Its main product, SimCorp Dimension, is an integrated enterprise solutions system that also sits on the desks of like-minded firms, such as Janus Capital, American Century and the Healthcare of Ontario Pension Plan (HOOPP). “We’re investing in a system that will help us better serve our clients and support new product initiatives,” comments Denis Bisson, vice president of business services at BMO Asset Management in Toronto. “We are excited to have chosen SimCorp as a partner to help us meet our servicing goals of today and for years to come.” The partnership with SimCorp is an effort for BMO to consolidate its front to back office needs, ranging across communication, investment accounting, performance, attribution, cash management, reconciliation and client reporting. Consolidation happens to be a main initiative for BMO, and one of Dimension’s core strengths— allowing for easier implemention across regions. “SimCorp Dimension will help us drive better cost and operational efficiencies,” said Todd Healy, vice president and director of investment operations at BMO Asset Management in Milwaukee and Chicago. “Multiple BMO Asset Management entities will be able to share reference data and infrastructure support costs but at the same time segregate client data between the different lines of business.” “One of the reasons why we were selected is that we’re able to handle, multi jurisdictions, currencies, and product lines, and more so, given our Europe lineage, we really have a good handling of different reporting and accounting requirements,” said David Kubersky, managing director for SimCorp North America. “Though, with BMO, I’m sure we’ll encounter specific nuances,” he told Markets Media. 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