SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today announced that it has appointed Thorvaldur Flemming Jensen head of its Application Service Provider (ASP) Division and member of the company’s executive management team, reporting directly to the CEO.

Thorvaldur Flemming Jensen joined SimCorp as Vice President, Head of IT, in 2011. He has a strong track record leading global IT organizations and heading the implementation of large infrastructure outsourcing and application management initiatives. In 2014, he completed the Executive Program from Stanford University Graduate School of Business with an emphasis on Strategy, Growth and Culture.

SimCorp CEO, Klaus Holse, comments: “With more and more clients opting for a hosted solution rather than operating SimCorp Dimension on premise, we have decided to strengthen this line of business. With his vast experience, strong leadership, and deep industry and product knowledge, Thorvaldur is perfectly placed to drive these efforts.”

Thorvaldur Flemming Jensen comments: “Our ASP organization is already well-established and runs in compliance with industry standards. My focus will be to further streamline and standardize our operations, enabling efficient scaling of this rapidly growing part of the business – a task that I am looking very much forward to.”

SimCorp has in particular observed an uptick in the move to ASP in North America, a market that represents a large proportion of the company’s projected revenue growth, and this is also where many of its ASP experts are positioned. In 2016, SimCorp has signed two new clients based in North America – a financial services provider and a US state agency – both of which have opted for the ASP deployment option of SimCorp Dimension.