Rimes – a year of change and growth

It's just over a year since I joined Rimes as CEO, and it has been an action-packed time. Although it has been a time of change, much has been achieved, and I am delighted to report that we are going from strength to strength. Significant highlights include a successful global relaunch of the Rimes brand; the signing of several new high-profile clients, including a number of European and American pension funds and sell-side institutions; and, the development of several strategic alliances with industry partners including State Street Alpha, ICE, Brown Bros, and Snowflake. We also continue to invest in our solutions, partnerships and teams to better support our valued clients. Following is a brief update on just a few of the things that we’ve been up to over the last several months. 

Enhancing our solution set

Rimes continues to expand its capabilities across asset classes and data management domains. Following the successful integration of Matrix, we now provide a highly specialized front-to-back data management solution - a capability we believe is unique across the industry. Other key developments include:

Benchmark data services: Index history and benchmark feeds are now available on SnowFlake, allowing for rapid deployment of daily and historical managed data.

Managed data services and ESG: Our ESG solutions have been streamlined to better support clients migrating their ESG management to an enterprise-grade solution.  As part of this, we now support consistent data mapping across multiple ESG vendors, data audit and lineage functionality, allowing clients to effectively integrate ESG data into all their businesses consistently.

Asset allocation and rebalancing: Our asset allocation and rebalancing solutions (Matrix IDM)are being rapidly adopted by the asset owner community due to the ability to look through to the true exposures in the underlying assets. We are seeing significant uptake in our external manager data processing capabilities enabling asset owners to look through to the underlying holdings in externally managed structures (PE, VC, Infrastructure, etc.)

Expanding our data partnerships

In the past six months, we have signed 21 new data partners, added 118 new data packages, including many ESG providers, each specializing in domains such as DEI, gender equality, and climate metrics. Rimes now carries 28 suppliers of ESG data with more to come.

New partners of note include:

• MerQube provides design and calculation solutions for the financial and insurance industries. They design and/or calculate a wide variety of indices, ranging from thematic toESG, factor and retirement, while covering multi-asset, equities, futures as well as options.
• Util reveals the social and environmental impact of more than 50,000 companies relative to the 17United Nations Sustainable Development Goals (SDGs) and thousands of other sustainability concepts, with which investors can report on portfolio performance and screen for companies and securities.

Investing in our people

To support the tremendous growth of our business, Rimes continues to expand its operations around the world, and further scale our implementation and client support functions to ensure our service remains best in class. We are expanding the Client Services team into a Client Managed Services function that will oversee the consolidation of all post-implementation services across our product portfolio to deliver a unified client experience at scale. Watch out for further communication on this from our Client Services team, and as always, if you have areas of concern that you would like to discuss, don’t hesitate to reach out to your account manager or the client services team. ‍

Expanding our corporate ESG commitment

In the last year, our team has worked extensively to formalize and expand our corporate ESG commitment. Rimes is a Carbon Neutral Plus company, is Ecovadis rated silver, and in 2021 we offset all of our unavoidable emissions back to 1996, when Rimes was founded.  As an EQT portfolio company, we are also in the process of committing to science-based targets with SBTi and will provide an update on this later this year.

In addition to our sustainability commitments, Rimes also has expanded our corporate philanthropy and charity support in the last year. We formed a global partnership with the Purple Community Fund, a charity based in the Philippines, as well as various local charities around the world. In tandem with this, we have rolled out a volunteer hours program, which provides our teams with paid time off for volunteer work in their communities. 

Closing 

It is our continued privilege to work with all of our clients around the world, and we hope to see many of you at our Q3/4 client events. Please don’t hesitate to reach out to your account representative with feedback or questions on how we can help you with your data management challenges, or email info@rimes.com.

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