News in brief - 2

• Gulf International Bank's UK asset management arm has selected SimCorp Dimension to manage its front office operations in regard to hedge funds, as well as equities and fixed income investments. SimCorp will also reduce the bank's client reporting from 10 days to five. Patricia Walton, head of middle office for GIB, said the system would put GIB UK's front and middle office on one database facilitating straight through processing. • PRP Performa Ltd has appointed offshore administrator