SimCorp has opened two new subsidiary offices: one in the United States; the other in Germany. Based in New York, SimCorp USA Inc. is responsible for marketing SimCorp’s IT/2 treasury management system as well as strengthening the support of its North American IT/2 customers in corporate treasuries. Peter Sørensen, M.Sc (Econ.) has been appointed president of SimCorp USA Inc. A second German subsidiary office has been established in Munich, the capital of Bavaria, to enable SimCorp to offer enhanced local support for its expanding TMS2000 customer base, which includes organisations such as Lfa Förderbank Bayern and MEAG Securities Management. Petra Dreier, with a degree in mathematics and seven years systems implementation and consultancy experience, has been appointed head of branch. Her initial team of three is expected to increase to at least eight employees over the next year.