Nomura Asset Management invests in automation

Nomura Asset Management UK has awarded a five-year IT services contract to Atos Origin aimed at further automating its management, compliance and operational processing.

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Nomura Asset Management UK has awarded a five-year IT services contract to Atos Origin aimed at further automating its management, compliance and operational processing.

Atos Origin will provide the company with its Apollo FIM platform, an integrated fund management and transaction solution that has been implemented at other European banks.

Paul Aspland, managing director of IT at Nomura Asset Management UK, said that "the combination of increased efficiency, flexibility and tight controls" will be a "huge benefit".

Nomura Asset Management has a global workforce of over 1,200 employees and has been operating in Europe for over 25 years.

In 2008, parent firm Nomura in Japan acquired parts of the stricken US bank Lehman Brothers, including its IT divisions.

The Nomura group was fined £1.75 million, a year later in an unrelated incident, over “widespread" systems and controls failures. Technology and processes at its International Equities and Derivatives business, headquarterd in London, fell “far short” of regulatory expectations, considering it is a business that trades “complex and high risk” financial products, the Financial Services Authority said.

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