Schroders leaves legacy just in time.

SCHRODERS PLC; INFORMATION technology; FINANCIAL crises; PORTFOLIO management (Investments); MANAGEMENT information systems; COMPUTER systems; ORACLE software; UNIX operating systems; SIMCORP A/S

The article presents information on how an information technology (IT) overhaul helped global investment firm Schroders PLC cope with recent market volatility. The company, which manages £114bn of client assets, faced severe pressure when the stock markets fluctuated wildly. But its introduction of a new IT system just before the turbulence meant it could cope. The company completed a two-and-a-half-year project to replace the 27-year-old legacy system at the heart of its IT infrastructure in September 2008. The legacy IMS portfolio accounting system (PAS) had been developed in-house to manage client assets. Schroders replaced IMS with Simcorp's Dimension software package. Dimension runs Oracle databases housed on clustered Unix boxes.