West LB AG Selects Asset Control for Global Data Management
The operations group of West LB has selected Asset Control’s AC Plus as its consolidated data management platform. AC Plus will initially replace West LB’s existing mainframe-based system Wagner Gattung, which is currently a standard legacy solution for the German market. The company claims a benefit of AC Plus is its ability to add additional vendor feeds, which enhances data quality and breadth of coverage over the standard WM feed to allow for strategic growth. Asset Control will provide West LB with a complete data management solution to distribute cleansed data to all of West LB’s businesses worldwide. The solution links all reference and corporate actions data across its financial markets. This news follows the purchase of Asset Control by Fidelity Ventures in April. Phil Lynch, former CEO of Reuters Americas and a venture partner with Fidelity Ventures was appointed CEO and president.