Quartz – The AI-Ready, Cloud-Native Platform for Asset Management

Delivering front-to-back operational control, intelligent workflows, and scalable investment infrastructure

ABOUT US

Cumulus Investment Solutions Limited is a specialist software company established to develop Quartz, a next-generation Asset Management System. The initiative began in 2019 and, following five years of intensive research and development, Quartz was launched in 2025.

Quartz by Cumulus is a cloud-native, highly configurable, AI-ready front-to-back platform designed for the global Asset Management and Asset Servicing industry.

Built on a robust Microsoft technology stack, Quartz enables the rapid design, orchestration, optimisation, and enhancement of operational processes through role-based workflows. Leveraging a single database architecture, it provides efficient data control, consistency, and transparency across the entire operating model.

Its unique Roles and Rules architecture supports the evolution of traditional operations into intelligent, adaptive, agent-driven workflows. Investment-vehicle agnostic and designed for the future, Quartz accelerates time-to-market, supports innovations such as tokenisation and digital assets, enhances client servicing, enables efficient scaling, and helps firms respond rapidly to changing market demands.

From the outset, our objective was to create a truly cloud-native application. Since then, industry attention has increasingly shifted towards Artificial Intelligence. We do not see these developments as competing priorities; rather, we believe cloud technology provides the essential foundation for the next generation of AI-enabled operating models.

Our vision is that future investment platforms will become process-rich environments with AI agents operating above them. Users will increasingly interact through intelligent agents, while underlying process and data models provide the governance, control, and intelligence needed to deliver reliable outcomes.

Organisations are investing heavily in AI. However, technology alone rarely creates value. AI delivers the greatest impact when supported by high-quality data, streamlined processes, and strong operational foundations.

The lesson is clear: AI is not a substitute for operational excellence; it is an accelerator of it.

When the transition to agent-driven operating models takes place, will your organisation be ready?

WHY QUARTZ ?

Cloud Native

Quartz was designed for the cloud from inception, not adapted afterwards. We believe the productivity benefits of cloud technology and AI can only be fully realised through a truly cloud-native architecture.

Complete Historical Reconstruction

Quartz records both transaction date/time and system date/time, enabling accurate recreation of positions even after subsequent transactions have been entered.

Low-Code Flexibility

Business environments evolve constantly. Quartz allows users to configure and control processes through data-driven tables, extending system longevity and enabling rapid adaptation across jurisdictions.

Investment Vehicle Agnostic

Users can create new instruments, define setup and transaction workflows, and configure valuation and accounting rules through flexible table structures. This allows firms to support both traditional and emerging asset classes, including tokenised assets.

Enhanced Data Accessibility

Cloud technology transformed access to data, and AI is extending that capability further, making information more accessible and actionable across organisations.

AI Ready

Generative AI addresses how work is performed; Agentic AI focuses on achieving outcomes. Quartz has been designed to support both current and future AI operating models.

Efficient Data Architecture

Quartz eliminates unnecessary duplication through a modern data structure. Data is maintained once, creating a single source of truth.

Cost Effective

Our pricing model is based on users rather than assets under management. As Quartz drives operational efficiency, firms benefit from greater scalability and predictable costs.

LEADERSHIP

Steve King – Founder

Steve King is the founder of Cumulus Investment Solutions. He began his career in the 1980s at GT Management, where he contributed to the development of two asset management systems, including the World Asset Management System (WAMS), which was adopted globally and later sold to Eagle Star.

Following GT’s acquisition by Invesco in 1997, Steve founded Phoenix Fund Services. Over 13 years, he built three successful businesses within the global asset management industry, supporting more than $10 billion in assets under management. Under his leadership, Phoenix grew from a three-person start-up to a 65-employee organisation generating $10 million in annual revenue before being acquired by Maitland, which was subsequently acquired by Apex.

Following a brief career break, Steve focused on cloud technology and developed a 2,400-page specification that became the foundation of Quartz, Cumulus Investment Solutions’ flagship platform.

Al-Noor Ramji – Strategic Advisor

Al-Noor Ramji is one of the most recognised technology leaders in the City of London. He founded and served as CEO of WebTek Software, one of India’s most successful software companies, before becoming a Director of Misys Plc, a leading provider of banking systems.

Throughout his career, Al-Noor has held senior leadership positions including Global CIO at Dresdner Kleinwort Benson, senior technology and business roles at Swiss Bank Corporation and Credit Suisse First Boston, CEO of BT Exact, CEO of BT Global Services, CIO of BT Group, and Chief Digital Officer and Board Member at Prudential Plc. He is currently a NED at Jaguar Land Rover.

He brings extensive experience in technology strategy, digital transformation, and global business leadership.

Raymond O’Neill – Strategic Advisor

Raymond O’Neill has more than 26 years of experience in the asset management industry across London, Dublin, Boston, and Bermuda. He has held leadership positions in both global organisations and entrepreneurial start-ups.

His experience spans advisory, audit, and risk management disciplines, including acquisitions, international office launches, and governance roles as Director across numerous regulated companies and investment funds.

Raymond was also a founding partner and CEO of Kinetic Partners. He is a Fellow of the Chartered Association of Certified Accountants (FCCA), a Member of the Chartered Financial Analyst Association (CFA), and a Certified Director with the Institute of Directors (IoD).

Antoinette Flannigan – Head of Operations

Over 30 years of management experience in financial services specialising in fund administration, operations oversight, regulatory compliance and investor servicing. Antoinette worked with Steve King at GT Management and Phoenix. She worked for Maitland prior to joining Cumulus.

Recognised for managing high-performance teams and having strong relationships with clients.

Simon Parkins – Chief Revenue Officer

Simon Parkins brings extensive experience from senior sales leadership roles at IBM, Oracle, New Relic, Lombard Risk, and Finastra. Throughout his career he has been responsible for expanding established markets and building new international sales territories.

He has also supported start-ups, cloud-managed service providers, and software and services organisations in scaling direct and indirect global sales channels. Contact simon.parkins@cumulusinv.co.uk

Thomas Woodcheke – Executive Vice President, North America

Thomas Woodcheke leads North American direct sales and partner channels. He brings more than 30 years of hands-on senior sales leadership experience, building and executing sales and consulting models for both multinational organisations and emerging businesses, including Oracle, PeopleSoft, LAS, and IBM.

Thomas is recognised for building high-performing teams, establishing strategic partnerships, and delivering complex technology solutions that accelerate customer success. Contact thomas.woodcheke@cumulusinv.co.uk

David Paris – Strategic Advisor

David Paris brings more than 30 years of executive experience across the UK and Asia within financial services and consulting organisations. His expertise focuses on risk management, compliance transformation, and operational strategy.

His experience includes leadership roles in financial crime management at Deutsche Bank, quantitative and operational risk at Reuters’ Instinet division, and senior consulting and technology leadership positions at HCL, EY, IBM, and Cognizant.

David is also co-founder of Viabx, a UK company leveraging AI and cybersecurity frameworks to support compliance with the EU AI Act.Contact david.paris@cumulusinv.co.uk

Martin Butler – Head of Sales, Ireland

Martin Butler is an experienced sales leader with a consultative approach to helping enterprise clients solve complex business challenges and deliver improved outcomes.

Martin has extensive experience supporting digital transformation and platform modernisation initiatives, positioning both on-premise and cloud-based solutions. Martin spent nearly 20 years with IBM and Microsoft and brings deep expertise in enterprise technology and customer engagement. Contact martin.butler@cumulusinv.co.uk

QUARTZ SOLUTION

Order Management

Quartz enables fund managers to model trades and portfolios before routing them to an Order Blotter for execution. Integration with FIX allows firms to automate order workflows, while pre-trade compliance checks identify potential issues before orders reach the market.

Trades can also be uploaded directly into Quartz and are automatically subjected to the same compliance and control framework, ensuring consistency across all trading activity.

Compliance

Quartz provides a highly flexible rules-based compliance framework, allowing users to create controls around virtually any data element. Rules can be grouped to align with specific regulatory regimes and investment policies.

Eligible markets can be defined, with configurable investment limits applied across jurisdictions. A central Compliance Dashboard provides compliance teams with a single view of breaches, trading activity, incidents, and related communications.

Income Processing

Dividends and interest are processed at the investment entity level rather than individually at fund level, reducing duplication and increasing operational efficiency. When an event occurs, all relevant client holdings are automatically updated.

Tax rules can be configured according to investment vehicle and fund domicile requirements, with entitlements and accounting entries generated automatically.

Trade Processing

Orders can be enriched with commissions, fees, and related charges as part of the processing workflow.

Quartz includes its own Standing Settlement Instructions (SSI) database and can integrate with confirmation and settlement systems to automate the post-trade process from execution through to settlement.

Fund Accounting

Fund Accounting sits at the core of Quartz. The platform supports multiple Chart of Accounts structures, enabling firms to apply different accounting frameworks and operational rules across funds and jurisdictions.

Orders generated by portfolio managers automatically create accounting entries, reducing manual processing and allowing fund accountants to focus on oversight and exception management.

Data Maintenance

Quartz leverages industry-standard ISO data structures throughout the platform. Integration of GICS classifications supports consistent performance reporting and simplifies communication with counterparties and external providers.

Corporate Actions

Corporate actions are processed at the investment entity level and automatically applied across relevant funds, improving efficiency and reducing operational effort.

The platform provides a flexible event framework that supports a wide range of corporate action scenarios, including complex events such as spin-offs and restructurings.

Prices and Exchange Rates

Quartz supports flexible integration methods for retrieving market data from external vendors.

Configurable exception rules can automatically validate incoming data, helping to improve accuracy, reduce manual intervention, and streamline operational processes.

PARTNERS

MICROSOFT

Quartz is built on a comprehensive Microsoft technology stack, from Azure cloud infrastructure and databases through to the adoption of Power BI for business intelligence and reporting.

As a Microsoft partner, Cumulus Investment Solutions leverages enterprise-grade technology, scalability, and security to deliver a modern, cloud-native platform. Quartz is also available through the Microsoft Marketplace.

XAMUN

Xamun partners with Cumulus to support the delivery of agile, cost-effective Agentic AI workflows and best-practice AI deployment across our target markets.

Its AI-driven software development capabilities continuously analyse business requirements, accelerate application delivery, and measure outcomes. Together, Cumulus and Xamun are exploring future initiatives focused on the intelligent gathering and analysis of investment data to support portfolio construction based on user-defined investment criteria.

RYZER

Ryzer has developed a white-label sell-side platform that enables organisations to tokenise assets and facilitate digital asset transactions.

Using blockchain technology, the platform provides immutable ownership records and transparent audit trails, helping reduce fraud risk and strengthen investor confidence.

Cumulus and Ryzer are working together to extend these capabilities into the buy-side environment, supporting automated digital asset processing and broader blockchain adoption within Quartz.

WHO WE SERVE

Fund Managers

Only the largest fund managers typically maintain fully integrated in-house operational teams. Many rely on third-party administrators (TPAs) for administration and operational support, creating a dependency on external records and processes.

Quartz enables fund managers to maintain a shadow accounting capability alongside their TPA. This allows managers to operate portfolios using their own internal records while maintaining independent oversight.

Quartz automatically imports positions from TPAs and reconciles them against internal records. Any discrepancies are highlighted for investigation, helping improve transparency, reduce operational risk, and provide greater control over portfolio management.

Wealth Managers and Family Offices

While fund management and wealth management systems share many core capabilities, fund management platforms generally require significantly more complex functionality, including multi-currency accounting, multiple daily valuation points, and sophisticated derivatives processing.

Traditional wealth management systems are often designed around model portfolios, client reporting, and risk profiling, creating challenges for firms looking to establish their own fund structures or bring investment management functions in-house.

Quartz bridges this gap by combining fund management capabilities with support for model portfolios. Wealth managers can manage a central portfolio model and efficiently allocate it across multiple clients, providing scalability while retaining flexibility.

Third-Party Administrators (TPAs)

Quartz’s cloud-native architecture and flexible role-based framework allow TPAs to extend controlled access directly to their clients.

Custom roles can be created to provide users with access only to relevant functions, organisations, or funds, delivering a secure and scalable business-to-client (B2C) operating model.

Many TPAs operate on platforms with pricing structures based on modules and Assets Under Administration (AUA), meaning costs often increase alongside business growth. Quartz offers a simpler pricing model with no AUA-based charges, allowing firms to scale efficiently without being penalised for success.

The platform’s rules-based architecture also enables multiple fund structures and jurisdictions to be administered within a single environment, reducing operational complexity and improving flexibility.