Global Fintech provider and part of the S&P 500 Index, Broadridge Financial Solutions, announced earlier this week the acquisition of FundsLibrary, fund document and data dissemination platform. Broadridge’s pan-European regulatory communications and digital data platform will benefit from the acquisition with lifecycle of fund data, documents, and regulatory reporting for the investment industry support.
FundsLibrary’s platform allows fund managers to increase distribution opportunities and helps them comply with Solvency II and MiFID II regulations. FundsLibrary’s solutions will be combined with FundAssist, Broadridge’s existing European funds regulatory communications business. FundsLibrary’s data platform in combination with technology and Broadridge’s existing fund calculation, document creation and translation capabilities, will provide managers and distributors with an end-to-end solution, enabling them to respond to demanding regulatory requirements across multiple jurisdictions.
The new solution will be called Broadridge Fund Communication Solutions and will be led by former CEO of FundsLibrary Arun Sarwal. Sarwal has extensive experience in financial services industry and technology business leadership. He has previously held executive positions such as Senior Vice President of SS&C Technologies, CEO of DST Investment Management Solutions, COO at Scottish Widows Investment Partnership (SWIP), SVP in ABN AMRO’s Private Clients & Asset Management business and was one of the founders of Kurtosys Systems.
Arun Sarwal commented:
I am delighted to lead this exciting fund data and regulatory communications business for Broadridge as we expand and grow our footprint in international markets. This combined business will enable Broadridge clients to utilize a single provider for the creation and dissemination of fund marketing and regulatory documents so they can increase distribution opportunities and meet the demanding standards of regulation
Broadridge acquired ClearStructure Financial Technology, a global provider of portfolio management solutions for the private debt markets in November last year. The acquisition of ClearStructure’s private debt capabilities created a differentiated solution in the market and enable Broadridge to serve new clients.
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