Santander Asset Management has reached an agreement with BlackRock to adopt the Aladdin platform in a move aimed at accelerating its technological transformation.
The Aladdin platform will allow greater consistency and standardisation of risk management across all of Santander AM's markets, providing clients with more transparent risk/return analysis and more complete and timely reporting.
With this adoption, the asset manager expects to reduce reaction time to changes in market conditions and the regulatory environment, helping to improve fund performance and product innovation. Along with major changes in its product line-up (Latin American and European Flagship funds), Aladdin will help re-position the asset manager as a competitive player for global institutional investors, the firm said.
Santander will be the first asset manager to use the Aladdin platform in Spain, Brazil, Portugal and Argentina.
"We are thrilled to deepen our global relationship with Santander Asset Management. Sophisticated investors like Santander are well positioned to leverage Aladdin, our industry-leading investment and risk management technology, to deliver better outcomes for their clients," said Armando Senra, head of Latin America for BlackRock.
The new platform is expected to be operative in Spain, United Kingdom, Portugal, Luxembourg and Poland in April of 2020, in Brazil and Argentina in August and, lastly, in Mexico, Chile and Puerto Rico in December 2020.