FundsLibrary makes a key appointment to accelerate innovation
FundsLibrary, one of the investment industry’s leading providers of fund data, related regulatory services and software solutions has appointed Andy Toghill as Chief Technology Officer.
Andy has joined from AXA and prior to that he was CIO at MixRadio Ltd. He comes with a wealth of expertise of over 30 years in technical, operational and leadership roles within the Insurance, Financial, Telecoms, Software and Music industries.
Andy will take responsibility for end-to-end technology delivery, including leading on the technology strategy to support innovation initiatives.
FundsLibrary has been working with the investment industry for over a decade during which time it has invested in the continuous improvement of the processes of managing and distributing fund data and documents for marketing and regulatory requirements for the asset management industry. Since the introduction of the MiFID II regulations on 3rd January 2018, FundsLibrary has maintained over 95% coverage of the required Ongoing Charges Figure (OCF) data across over 30,000 funds on platforms it supports and has responded to over five million requests for data from sources supplied by FundsLibrary.
The next phase of the strategy for FundsLibrary is to leverage its deep domain knowledge of the industry and technology expertise from data intensive industries, in order to support the change that asset managers are facing in the need to digitise, and make more transparent, the information they provide on the one hand, and the need for cost efficiency on the other.
Arun Sarwal, CEO of FundsLibrary, said:
“The fund management industry is at an inflection point and we are seeing a step change in regulation and an interest in changing the operating model to gain greater cost efficiency and a focus on the core business. There is a cultural shift in the willingness to consider cloud-based solutions and the adoption of new technologies, particularly around data management.
“As a business founded on technology and developing solutions to respond to the needs of the mutual fund industry, we are committed to continuing to innovate the solutions we offer, with particular cognisance of the implications of the recent FCA and other regulatory consultations. We are working on initiatives to make the management of fund data for asset managers more efficient using emerging technologies. Andy’s appointment is a key step in ensuring we can deliver on that commitment, given his wealth of experience of working across a broad range of industries and types of companies.”
Andy Toghill, CTO of FundsLibrary, added:
“The investment industry is an exciting place to be in right now. There are lots of opportunities within the tech space that FundsLibrary is in the prime position to take advantage of. I am excited for the challenges to come and for the opportunity to work within such a forward-thinking team.”
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All figures correct as at 23.05.2018.