CBRE Clarion Securities migrates to Portware's Cloud
CBRE Clarion Securities has migrated to a cloud environment provided by financial services IT provider Portware. The custom implementation has enabled the Pennsylvania-based asset manager to reduce its operational overhead and eliminate ongoing support costs, according to a press statement.
In late 2011, CB Richard Ellis Investors, the global investment management segment of commercial real estate services firm CBRE Group, acquired ING Clarion Real Estate Securities, a global real estate investment management business. As part of the deal, CBRE needed to merge the two firms' infrastructures. CBRE had historically deployed Portware Enterprise in its internal data center, relying on the system to automate its traders' complex workflows.
"We weighed a number of options, but our decision ultimately came down to the benefits of outsourcing to the Portware cloud environment for the support and high availability benefits, without having to compromise on the advanced trading technology and customization we were accustomed to with our legacy Portware Enterprise platform," says Bob McManus, head of information technology at CBRE Clarion Securities. "We also needed to support our traders in Europe and Asia, and outsourcing the system proved more economical than trying to add internal staff to cover our 24-by-6 operations."
Headquartered near Philadelphia, CBRE Clarion Securities manages roughly $22 billion in assets and has more than 80 employees located in offices in the U.S., U.K., Hong Kong, Japan, and Australia.
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