StatPro Group, an AIM-listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, capped off 2018 with a new strategic partnership with Broadridge, and the acquisition of ODDO BHF, a regulatory risk services bureau.
In addition, the company made three new senior executive hires.
During the course of the year StatPro signed 20 clients in eight different countries for contracts greater than USD100k per annum, underscoring the momentum we are building across the industry.
Justin Wheatley (pictured), CEO of StatPro, says: “Our 2018 partnership with Broadridge re-affirmed our role as a leader in the performance and risk analytics space.”
“Our portfolio technology and services will continue to drive the transformation within the asset management industry as asset managers switch to outsourcing to reduce costs and leverage the scale of asset manager service providers. Our technology empowers asset managers to do more for their clients, more efficiently.”
“Going into 2019, we are very well positioned strategically to continue delivering transformative products and exceptional service; adding to our existing managed services offering and providing our customers with best-in-class solutions.”
“StatPro’s major accomplishment was its new partnership with Broadridge. The financial services data and analytics solutions provider is incorporating our cloud-based, comprehensive analytics for alternative and traditional asset managers working to meet an increased demand for performance measurement, attribution and risk analytics.”
“StatPro also acquired the regulatory risk services bureau from ODDO BHF, an independent Franco-German financial group. The acquisition adds a full, managed service for regulatory risk reporting capability, which will use our existing Revolution platform, thus expanding the service delivery options for our clients.”
“The 20 new sales to new and existing clients, representing multi-million dollar subscriptions across all markets where we operate continues to provide us with considerable momentum. Clients need to upgrade their technology to efficient cloud-based solutions that will enable their digital strategies so that they may remain competitive”, adds Wheatley.
StatPro continued to invest in senior executive talent. Former Morningstar Executive, Gordon Bloor, joined as CEO for Source: StatPro, and Nico Coetzee was appointed as North American Sales Director and Director of StatPro Canada for the Toronto office. UBS veteran, Clinton Moseley was hired to head up internal operations.
Following on from the new hires, StatPro signalled to the market last spring that it would be structured into three new divisions from the beginning of 2019 – ‘Revolution’ for analytics, ‘Source: StatPro’ for data services, and ‘Infovest’ for integration and data management services. The structure will make operations of the business clearer, provide distinct divisional management focus, and drive more growth.