Investment Management Technology
Investment Management Technology is a print/digital publication produced Risk Waters Group, a monthly magazine specializing in the application of information technology in the capital markets.
ADP Buys Shark for $18M To Help Buy-Side Cause
By Craig McGuire
Having permitted Bridge Information Systems Inc. to go by the boards, ADP has signed a letter of intent to purchase the assets of equity quote specialist Shark Information Services Corp. The agreement … (Click Here to Read More)
Vendor FRI Sues SS&C; Cites Relationship With Ex-Staffer
By Craig McGuire
Montreal-based FRI Corp. has taken J. Richard Davidson, a former sales executive, as well as its competitor Securities Software & Consulting, to court. In Ontario General Division, lawyers for FRI maintained that Davidson violated an employment contract by … (Click Here to Read More)
New York Times Roughs Up Killian for ITG’s Performance, But What About This Year?
By Craig McGuire
Despite a recent New York Times article that branded him as “overpaid,” Investment Technology Group Inc. (ITG) may just be getting its money’s worth from chief executive officer Raymond Killian. A recent Times business section page-one story characterized Killian’s $15.5 million in salary as … (Click Here to Read More)
Vendors Bit Back: Survey of Portfolio System Vendors Takes a Little Heat
By Craig McGuire
Several portfolio management software vendors have voiced criticism of a survey conducted by Somerset, N.J.-based consulting firm The Spaulding Group (TSG). The vendors, some of whom were stung by the survey’s [published results, say the poll suffered from too-low response rate and provided information of questionable utility … (Click Here to Read More)
Babson & Co. Taps ITS to Replace EPVS and Portia; High Volume a Major Factor
By Craig McGuire
Cambridge, Mass.-based David L. Babson & Co., with some $5.5 billion in assets under management, recently began its installation of ITS Associates Inc.’s Portfolio Management Information System (PMIS)… (Click Here to Read More)
Aggressive Upgrade Schedule Keeps Bailard Biehl & Kaiser Loyal to FIN Portfolio System
By Craig McGuire
Further automating its investment management operations, San Mateo, Calif.-based Bailard Biehl & Kaiser (BB&K) received upgrades to its Financial Information Network Inc. (FIN)-provided portfolio management system in late September… (Click Here to Read More)
Bloomberg Adds Dynamic Updates for Third Party Services: MMS, Others to Switch Over
By Craig McGuire
Bringing its service in line with competitors Reuters, Dow Jones Telerate and Knight-Ridder, Bloomberg L.P. has improved its technology so it can now give third-party services that display their information on the Bloomberg terminal the ability to … (Click Here to Read More)
Chandler Liquid Asset Wraps Up Installation for PAM for Securities
By Craig McGuire
Chandler Liquid Asset Management Inc. has completed installation of Princeton Financial Systems Inc.’s PAM for Securities portfolio management and accounting system. Chandler selected Princeton’s system to support … (Click Here to Read More)
Ahead of Continental Merger, CNA Insurance Picks Maximis, Oracle and Hewlett-Packard
By Craig McGuire
Chicago-based CNA Insurance Companies, a subsidiary of CNA Financial Corp., has selected Premier Solutions Ltd.’s Maximis portfolio accounting and management system to support what will son become a $40 billion investment portfolio … (Click Here to Read More)
Country Companies Services Plans to Install SS&C CAMRA in Place of Mainframe Systems
By Craig McGuire
Bloomington, Ill.-based Country Companies Services Co. (CC Services) recently selected Securities Software & Consulting Inc.’s Complete Asset Management Reporting & Accounting (CAMRA) system to manage some $4 billion in assets under management … (Click Here to Read More)
Minding Costs, Aegon USA Puts Some Assets on Portvue
By Craig McGuire
Cedar Rapids, Iowa-based USA Investment Management Inc. has selected Security APLInc.’s Portvue service to support some $500 million in individual client portfolios … (Click Here to Read More)
To Handle Widening Range of Financial Services, Allmerica Financial Buys PAM
By Craig McGuire
Worcester, Mass.-based Allmerica Financial, a diversified group of insurance and financial services companies, is in the process of installing Princeton Financial Systems Inc.’s PAM for Securities and PAM for Mutual Funds portfolio management and accounting systems … (Click Here to Read More)
With Deployment of PAM, AON Corp. Wonders About Windows
By Craig McGuire
AON Corp. has found itself confronted with some minor delays in its effort to deploy Princeton Financial Systems Inc.’s DOS-based PAM for Securities portfolio management and accounting system … (Click Here to Read More)
For Custody Ops, Fidelity Taps Global Plus for Unix
By Craig McGuire
Fidelity Investments has selected the recently released Unix-based version of Premier Solutions Ltd.’s Global Plus asset management system. Fidelity purchased Premier’s software to support its Asset Services Group’s global custody operations … (Click Here to Read More)
FIM Conference Changes Approach: New Sponsors and More Focus on Technology
By Craig McGuire
Though stumbling in recent years, the annual Financial Investment Management (FIM) conference, recently hosted in New York by Flagg Management Inc., regained some ground this year. By recruiting six blue chip sponsors … (Click Here to Read More)
At FIX Committee Meeting, Fidelity Reacts Hotly to Protocol’s Critics
By Craig McGuire
At a recent FIX subcommittee meeting held at Salomon Brothers Inc. in New York City, an executive of Fidelity Investments fought back in response to a recent article in the financial press concerning the FIX protocol … (Click Here to Read More)
Gabelli Asset Plows Ahead With Security APL Portvue
By Craig McGuire
Security APL Inc. is in the midst of developing a new graphical client report package for Gabelli Asset Management Co. (Gamco), aimed at improving communication between the institutional investment firm’s portfolio managers and its customers … (Click Here to Read More)
SS&C Shareholder General American Augments Vendor’s CAMRA With FILMS
By Craig McGuire
General American Life Insurance Co., a minority shareholder in Securities Software & Consulting Inc., last month went live with the vendor’s so-called Fully Integrated Loan Management System (FILMS) to complement the vendor’s Complete Asset Management Reporting & Accounting (CAMRA) system … (Click Here to Read More)
For MBS, Guardian Life Taps SS&C’s Allocator Plus, Eyes SFSG’s EPN Interface
By Craig McGuire
Looking to further automate its portfolio management and accounting operations, Guardian Life Insurance Co. has selected Securities Software & Consulting’s Allocator Plus application to process its mortgage-backed securities … (Click Here to Read More)
Hancock Adviser’s Bond Funds Go On CAD, As Parent Taps SS&C
By Craig McGuire
Boston-based John Hancock Advisers Inc., a wholly owned subsidiary of John Hancock Mutual Life Insurance Co., has completed installation of Computer Aided Decisions Inc.’s Global Expanded Portfolio Valuation System (Global EPVS) portfolio management system … (Click Here to Read More)
Cramer Rosenthal McGlynn Commits to Service Bureau, NIDS Out for Security APL
By Craig McGuire
NYC-based investment advisor Cramer Rosenthal McGlynn is live with Security APL Inc.’s Portvue portfolio management and accounting service bureau to support some $1.8 billion in assets under management … (Click Here to Read More)
EJV, Princeton Interface Developed for MIMCO
By Craig McGuire
When MetLife Investment Management Corp. (MIMCO) tapped EJV Partners L.P. to provide taxable fixed income information services during the installation of a new Princeton Financial Systems Inc. portfolio management system last fall, the firm decided … (Click Here to Read More)
Electricities Shifts Systems to Windows, Upgrades CAMRA With New Interface
By Craig McGuire
Intent on bringing all of its computer systems into the Microsoft Corp. Windows environment, Electricities of North Carolina Inc. has purchased Securities Software & Consulting’s new Windows user interface to upgrade its treasury department’s portfolio management and accounting system… (Click Here to Read More)
National Trust Taps Portia, Following Global Plus Pick
By Craig McGuire
Toronto-based National Trust Co. has selected Thomson Financial Services Inc.’s Portia to support its portfolio managers, traders and administrators. The trust company, which plans to go live with the Microsoft Corp. Windows-based version … (Click Here to Read More)
Nationwide Selects PAM After Attempt to Deploy Magnus’ SMS Fails
By Craig McGuire
Following a prolonged though unsuccessful attempt to deploy Magnus Software Inc.’s Securities Management System (SMS), Nationwide Mutual Insurance Co. has selected Princeton Financial Systems Inc.’s PAM for Securities to supports its $64 billion portfolio … (Click Here to Read More)
Pacific Mutual and Pimco Select Premier’s Maximis, First Sybase Implementations
By Craig McGuire
Newport Beach-based Pacific Mutual Life Insurance Co. has selected Premier Solution’s Maximis portfolio management and accounting system to manage some $15 billion in assets … (Click Here to Read More)
Princeton Wins 3 More Blue Cross / Blue Shield Units, Vendor Sees Other Ahead
By Craig McGuire
Three Blue Cross / Blue Shield companies (in Illinois, North Carolina and Virginia) are planning to go live with Princeton Financial System’s PAM for Securities at the beginning of next year … (Click Here to Read More)
Princeton Too Quick to Promote Products Running Under Windows
By Craig McGuire
Last fall, POrinceton Financial Systems Inc. announced the lon-awaited release of its Microsoft Windows-based versions of PAM for Securities, PAM for Mutual Funds and PAM for Trading. However, more than three months after the press release was issued … (Click Here to Read More)
McGraw’s Quandt Leaves to be Chair, CEO of Bridge
By Craig McGuire
Welsh Carson Andersen & Stowe has appointed James Quandt chairman and chief executive officer of its newly acquired Bridge Information Systems subsidiary. Quandt, who resigned his post as president of … (Click Here to Read More)
Head Asset Management Taps PAM to Support 99 Portfolio Managers
By Craig McGuire
NYC-based Head Asset Management, with some $1 billion in assets under management, has selected Princeton Financial’s PAM for Securities portfolio management and accounting system … (Click Here to Read More)
Hotchkis & Wiley Selects Global EPVS, Nixes Portia
By Craig McGuire
Hotchkis & Wiley, a Los Angeles-based investment management firm with some $6 billion in assets under management, has selected Computer Aided Decisions’ Global EPVS to supports its operations department… (Click Here to Read More)
Integon Insurance Outs Oscars, Rejects Prism, Settles on PAM
By Craig McGuire
Migrating from a mainframe-based architecture to a client/server environemgt, Winston, Salem-based Integon Insurance recently began installation of Princeton Financial’s PAM for Securities … (Click Here to Read More)
Invesco Readies Rollout of PAM for Mutual Funds
By Craig McGuire
Denver-based Invesco Funds Group is preparing to install Princeton Financial’s PAM for Mutual Funds. Invesco purchased the PC-based system last month for its accounting functionality … (Click Here to Read More)
Janus Completes Rollout of Data Exchange’s WinDX to Support 48
By Craig McGuire
Denver-based institutional investment manager Janus Capital Corp. recently completed the installation of Data Exchange Inc.’s WinDX portfolio management and accounting system … (Click Here to Read More)
Legg Mason Capital Management Rolls Thomson Portia for Portfolio Managers, Others
By Craig McGuire
Completing a portfolio management system migration to a client/server environment, Legg Mason Capital Management has installed Thomson Financial Services Portia. LMCM is an investment management arm of … (Click Here to Read More)
Magnus Software Wins at Metropolitan Life
By Craig McGuire
After months of contract negotiations and tests, Metropolitan Life Insurance Co. has selected Magnus Software Corp.’s Securities Management System (SMS) to supports its portfolio managers, traders and investment accountants in its New York City and Atlanta offices … (Click Here to Read More)
Mass. Housing Rolls PAM; Begins Seeking Data, Apps
By Craig McGuire
Boston-based Massachusetts Housing Finance Agency is completing installation of Princeton Financial’s PAM for Securities portfolio management and accounting system. With the completion date just weeks away, officials at MHFA are now … (Click Here to Read More)
MBL Life Assurance Chooses SS&C’s CAMRA After Weighing PAM, Maximis, and Prism
By Craig McGuire
Newark-based MBL Life Assurance Corp. is preparing to install Securities Software & Consulting’s Complete Asset Management, Reporting, and Accounting (CAMRA) system. … (Click Here to Read More)
Aegon’s Melson to Acquire Magnus From New York Life
By Craig McGuire
Chicago-based Melson Technologies has signed a letter of intent to purchase investment management software vendor Magnus Software Corp. from New York Life Insurance Co. … (Click Here to Read More)
In Merger, MetLife Must Wed Diverse I.T. Environments
By Craig McGuire
With only two weeks having elapsed since the merger of Metropolitan Life Insurance Co. and New England Mutual Life Insurance Co., the merged entities have resolved few details regarding how they will share technology going forward. However, a number of significant events have already taken place … (Click Here to Read More)
Mitchell Hutchins Will Rule In Merger With Kidder Asset
By Craig McGuire
The impending merger of PaineWebber Inc. and Kidder Peabody & Co. will have its impact in the world of investment management systems, too. By the time the post-buyout maneuvering is complete … (Click Here to Read More)
Seeking Speed, Moore Moves Portfolio System to Unix
By Craig McGuire
Looking to speed up processing in its back office, Moore Capital Management has replaced the DOS-based version of its investment accounting system with a Unix upgrade … (Click Here to Read More)
SS&C Buys MBS Software, Will Integrate Into CAMRA
By Craig McGuire
After several months of negotiations, Bloomfield-based investment management software vendor Securities Software & Consulting Inc. (SS&C) has acquired competitor MBS software … (Click Here to Read More)
SS&C Converts CIMS Users Aurora National, West Bend
By Craig McGuire
Securities Software & Consulting Inc. has won over two of its Corporate Investment Management System (CIMS) clients to its Complete Asset Management Reporting and Accounting System … (Click Here to Read More)
SS&C Seeks Year-End Sales With Introductory Offer of New Compliance Module
By Craig McGuire
Securities Software & Consulting Inc. has released CAMRA Compliance, an integrated compliance module of its CAMRA for Windows system. Looking to give a quick boost to sales … (Click Here to Read More)
State Farm Begins Rollout of PAM for Mutual Funds to Support $3 Billion
By Craig McGuire
State Farm Insurance Co. is completing installation of Princeton Financial System’s PAM for Mutual Funds portfolio management and accounting system. State Farm selected … (Click Here to Read More)
Sungard Acquires MIS; Bows News Insurance Systems Unit
By Craig McGuire
As expected in previous reporting, Sungard Financial Systems has joined forces with Market Investment Solutions, a rival in the hotly competitive insurance company investment management technology marketplace … (Click Here to Read More)
Replacing CIMS, TIAA Rolls SS&C’s CAMRA for FILMS to Support 200 Users
By Craig McGuire
The TIAA unit of Teachers Insurance & Annuity Association / College Retirement Equity Fund (TIAA / CREF) has completed its rollout of two Securities Software & Consulting Inc. portfolio management systems to support some 200 portfolio accountants and analysts … (Click Here to Read More)
T. Rowe Readies GPS, Eyes More NT, Plans I-Way Apps
By Craig McGuire
On the eve of cutting over to a new portfolio management and accounting system supplied by DST Systems Inc.-subsidiary DST Belvedere, T. Rowe Price Associates Inc. is preparing to replace not only its incumbent mainframe-based system, but Thomson Investment Software’s Portia, as well … (Click Here to Read More)
Led By New Management, Trustmark Buys Off Shelf to Replace Homegrown System
By Craig McGuire
Lake Forest, Ill.-based Trustmark Insurance Co., with some $700 million in assets under management, has selected Princeton Financial’s PAM for Securities portfolio management and accounting system. The selection, finalized in late December … (Click Here to Read More)
Twentieth Century Insurance Selects Princeton’s PAM to Replace Bond & Stock
By Craig McGuire
Woodland Hills, Calif.-based Twentieth Century Insurance Group has selected Princeton Financial Systems Inc.’s PAM for Securities portfolio management and accounting system, but won’t be able to bring the new system live as quickly as it had hoped … (Click Here to Read More)
Unum Life Insurance Rolls SS&C’s FILMS in Territory Already Staked by Princeton
By Craig McGuire
Completing the migration of its investment management and accounting system to a client / server environment, Unum Life Insurance Co. of America has selected Securities Software & Consulting’s Fully Integrated Loan Management System (FILMS) to support $1.2 billion in mortgage loan assets … (Click Here to Read More)
Voyageur Moves to Advance Upgrade to Portfolio Systems
By Craig McGuire
Minneapolis-based Voyageur Asset Management has taken a further step toward completing an upgrade of its portfolio management and accounting systems. The firm late last year installed Sungard Investment System’s Unix-based Invest One.… (Click Here to Read More)
Welsh Carson Perseveres, Buys Bridge Information
By Craig McGuire
After months of discussions involving numerous potential investors, Bridge Information Systems Inc. has found a buyer: Welsh Carson Anderson & Stowe. Just over two weeks ago, the New York-based investment firm agreed to acquire a controlling interest in Bridge … (Click Here to Read More)
Emphasizing Buy-Side Market, Reuters Will Carry Multex
By Craig McGuire
In a bid to enhance its appeal to buy-side data consumers, Reuters has agreed to redistribute Multex Systems Inc.’s Multex Publisher full-text graphical research service. While the full ramifications of the Reuters deal with Multex could not be established, some sources indicate … (Click Here to Read More)
To Sell Bridge, Alex. Brown Touted Order Flow Potential and Buy-Side Client List
By Craig McGuire
In the wake of the recent sale of Bridge Information Systems Inc. to Welsh Carson Anderson & Stowe, sources familiar with the purchase say that Alex. Brown & Sons Inc. touted Bridge’s institutional order-flow potential and buy-side client list as key selling points … (Click Here to Read More)
Houston’s Smith Graham Wraps Rollout of Portia, Replacing Old PIMS Package
By Craig McGuire
Smith Graham & Co. is putting the finishing touches on its rollout of Thomson Financial Services Inc.’s Portia portfolio management and accounting system. The Houston-based investment manager finalized its selection of Portia in late February to support some $1.9 billion in assets under management … (Click Here to Read More)
Soros is Second Beta Site, Alongside Goldman Asset, for Advent’s Delayed Geneva
By Craig McGuire
Soros Fund Management has joined Goldman Sachs Asset Management as a beta-test site for Advent Software Inc.’s elusive Geneva product. Geneva is meant to be Advent’s high-end, multi-currency entry into the portfolio management system marketplace… (Click Here to Read More)
Photo Credit: By Lukas Blazek (Courtesy of Unsplash.com)