• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Subscribe
  • Twitter
  • RSS Feed

Investment News NZ

Investment News provides financial advisers news stories from the financial industry in New Zealand. Subscribe to our free weekly newsletter.

  • Home
  • News
  • Kiwisaver
  • Subscribe
  • About
  • Advertise
  • Contact
You are here: Home / Investment News / MMC goes all-in on cloud; FSC confirms digital conference

MMC goes all-in on cloud; FSC confirms digital conference

September 13, 2020

Vedran Babic: MMC CEO

Auckland-based fund administration business MMC completed a two-year shift to the cloud last week with its core systems joining Aegis services on the Microsoft Azure platform.

Vedran Babic, MMC chief, said the cloud move would provide resilience, flexibility and scalability for the business, which grew substantially following the purchase of the Aegis platform from ASB last year.

MMC had already transitioned the Aegis systems to the cloud this June as it formally separated the platform operations from ASB.

“There are also material benefits which flow directly through to our clients via increased capacity and resilience for their investors’ growing digital engagement needs, faster deployment for releases causing less downtime and greater levels of security,” Babic said in a statement.

“… Now that we are all in the Cloud, our focus shifts to optimising the Azure environment to maximise all of the benefits available. This migration means we are ensuring that both MMC and our clients’ businesses keep up to date with the latest technology available and our clients’ investors are provided with a world class infrastructure and support.”

Craig Richardson, MMC chief information officer, led the technology upgrade internally, liaising with Microsoft and managed service provider, Lancom.

Microsoft NZ chief technology officer, Russell Craig, said the software giant had “ a huge focus on working with the financial services industry, and welcoming MMC to Microsoft Azure is a great step forward”.

Craig said in the release that, post transition, Microsoft would continue to work with MMC and Lancom on IT strategies “as they lead the way forward.”

Globally, Azure has had some big wins in financial services this year including index provider MSCI as well as a partnership project between BNP Paribas Securities Services and the BlackRock-owned risk management platform, Aladdin.

Since launch about 15 years ago MMC – now half-owned by NZ private equity firm Pencarrow – has claimed a substantial slice of the local funds administration space. Including Aegis, MMC administers over $85 billion of behalf of more than 100 clients composed of fund managers, product providers, KiwiSaver schemes and other professional investment groups

Meanwhile, technology has rescued the 2020 Financial Services Council (FSC) annual industry conference from oblivion.

Forced to cancel its reality-based annual conference post the recent coronavirus outbreak in Auckland, the FSC confirmed last week it would host a digital event over October 13-15 – timed to precede the October 17 general election.

Originally scheduled as a live show to be held on September 8-9, all current tickets and sponsorships will be valid for the online version, the FSC says.

The FSC also reported it had added nine new members since the start of this year, most of them employer superannuation schemes transitioning across from Workplace Savings NZ (WSNZ). WSNZ formally merged with the FSC last year.

The full list of new 2020 FSC members includes:

  • Munich Re;
  • Deloitte;
  • BP NZ Retirement Plan;
  • Ports Retirement Plan;
  • The Maritime Retirement Scheme;
  • Resolution Life;
  • The NZ Automobile Association;
  • Sealed Air (NZ) Superannuation Funds; and,
  • Nestlé Pensions (NZ).

 

 

Print Friendly, PDF & Email
Twitter0
LinkedIn0
Google+0
Facebook0

Read More » Investment News

Recent articles

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
Finished reading? Why not subscribe? To receive a weekly email enter your email address here.

Primary Sidebar

WEEKLY NEWSLETTER

Sign up here to receive our weekly newsletter.
Learn More »

Investment News

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
  • Veteran exit triggers NZ Super management rejig April 11, 2021

Search by Keyword

Most Recent Investment News

Salt diversifies with another AMP Capital hire

April 14, 2021

FMA draws hard line under fund fees, softens on KiwiSaver advice costs

April 14, 2021

Passive move activates AMP NZ investment role; double exit at AMP Capital…

April 11, 2021

… as Ms Fixit comes to the rescue at AMP HQ

April 11, 2021

Lifetime deadline set for late April

April 11, 2021

Investment News Archive

Most Popular Articles

  • NZ share-trading splurge could trigger tax alarms… posted on October 5, 2020
  • Westpac NZ flags retail advice sale to Forsyth Barr posted on October 19, 2020
  • Flint set to spark platform competition posted on August 17, 2020
  • The horror year in technicolour: free KiwiSaver 13 report released posted on September 30, 2020
  • Four to the core: Smartshares to expand, rearrange and reprice ETFs posted on June 22, 2020
  • NZ Funds directors back on board posted on April 24, 2016
  • Kitset KiwiSaver scheme set to unwrap in spring posted on April 27, 2020
  • Kiwi Wealth hits the bigger time posted on November 26, 2017

Sponosored Content

Responsible goes retail: why Mint has opened the SRI tin

David-Boyle

Jumping lessons: what all investors can learn from GameStop loss

What do ‘Kiwi’ experts see for 2021?

David-Boyle

On the industry play-list: four chart-topping regulations for 2021

Quick-links to Popular News

  • FAP Compliance
  • Coronavirus
  • New Appointments
  • Financial Markets Authority (FMA)
  • Kiwisaver
  • Climate Change
  • Crypto Currency
  • Blockchain
  • Insurance

Secondary Sidebar

Recent News

  • Salt diversifies with another AMP Capital hire April 14, 2021
  • FMA draws hard line under fund fees, softens on KiwiSaver advice costs April 14, 2021
  • Passive move activates AMP NZ investment role; double exit at AMP Capital… April 11, 2021
  • … as Ms Fixit comes to the rescue at AMP HQ April 11, 2021
  • Lifetime deadline set for late April April 11, 2021
  • MyFiduciary books first Australian consulting client April 11, 2021
  • Wealth Technologies welcomes aboard two new platform clients April 11, 2021
  • Look inside: why ESG is for managers not just investments April 11, 2021
  • Same time last year: why 2020 was tough for TAA despite record volatility April 11, 2021
  • Veteran exit triggers NZ Super management rejig April 11, 2021

Footer

Copyright ©2020 InvestmentNews.co.nz — All Rights Reserved ·— Terms & Conditions