Investment operations technology provider SimCorp has appointed chief operating officer (COO), Christian Kromann, as its new chief executive, replacing Klaus Holse who steps down after nine years.
Kromann will become CEO from 2 September, as Holse remains at the company as a member of the executive management board for the rest of this year and then as a senior advisor until the second quarter in 2022.
Holse has led SimCorp since 2012, joining from Microsoft where he was a corporate vice president overseeing its activities in Western Europe.
“In his nine-year tenure, we have seen tremendous growth and significant value creation for our shareholders, and Klaus has been instrumental for initiating the ongoing transformation,” Peter Schütze, chairman of the board of directors at SimCorp, commented.
Kronmann joined SimCorp as COO in August 2019 in a new position within the company. He had previously held senior positions at trading technology vendors including FIS and Sungard, and was most recently CEO of software provider TIA Technology.
“The Board has followed Christian’s performance as COO for the past two years and we are pleased to have a strong and competent internal successor to take over the leadership of the company after Klaus Holse,” Schütze added.
“Christian is an accomplished and respected leader with an impressive background from our sector, and his dedication to execution and strong client focus is what is needed to drive SimCorp’s success in the future.”
Over the past few years, SimCorp has established several key partnerships with custodians and market infrastructures. Last month, the vendor, expanded its partnership with Swiss exchange operator SIX to bring global reference, pricing and regulatory data to the buy-side using its investment management platform, SimCorp Dimension.
The firm has also established front-to-back data integration alliances with BNY Mellon and JP Morgan, providing mutual asset manager and owner clients with a consolidated, near real-time view of their investment operations data.