BOSTON and LONDON–(BUSINESS WIRE)–Nov. 17, 2003–Eagle Investment Systems Corp. today announced that Threadneedle Asset Management Limited, the third largest investment fund manager in the UK withGBP50 billion ($81 billion) assets under management, has selected Eagle to support its new Investment Information Services (IIS) business unit’s mission to streamline internal operations through thebuilding of a one-stop information hub to be called “DataNet.”
Threadneedle decided to put in place a single distribution platform that would deliver corporately shared data and information through centralized and standardized processes, driven by the IIS business unit. In order to help achieve that goal, Threadneedle has chosen to implement Eagle PACE(TM), a data hub and portfolio management system, Eagle Reference Manager, a security reference data management, validation, and workflow system, Eagle Message Centre and Eagle Portal.
“We aim to provide high quality data and information services to client departments across our investment process and want to ensure the recent investment in business systems for fund managers, compliance, and for our distribution business are running on premium information,” said Mark Stancombe, head of IIS at Threadneedle.
“Threadneedle joins Eagle’s growing list of international clients and illustrates Eagle’s continued expansion, and commitment to the European and global markets,” said David Palten, president and chief executive officer of Eagle. “We are very excited by the opportunity to assist Threadneedle with their DataNet programme and look forward to working closely with them through Eagle’s Professional Services who have been engaged to assist Threadneedle with their implementation.”
“The project has been carefully scoped to enable Eagle PACE to provide the framework that will help Threadneedle to achieve its objectives with regards to core investment data management,” said Dave Carter, Threadneedle’s head of IT Architecture. “The ability to meet the key business drivers of IIS, of providing quality and consistency in the data to multiple systems, including LatentZero(TM) in the front office, DSTi’s HiPortfolio within operations and into our quantitative analytics team, will offer major benefits faster than if we had taken an in-house build approach. It will therefore mitigate business risks and underpin much improved client service as Threadneedle establishes a growing number of new institutional mandates from clients whom recognize Threadneedle’s consistent performance.”
About Threadneedle
Threadneedle Asset Management Limited was established as recently as 1994, and now a major investment group in the UK. Threadneedle is part of American Express, one of the world’s largest and best known financial services companies. Threadneedle offers a broad range of investment services including ISAs, PEP transfers and fund investments. In 1997, Threadneedle established the first multi-fund conversion of unit trusts into an Open-Ended Investment Company (OEIC). Threadneedle manages in excess of GBP50 billion for both individuals and major corporate investors across Europe (as at 30.09.03)
About Eagle Investment Systems
Eagle, a Mellon Financial Company(SM), is a global provider of financial services technology. Eagle’s Web-based systems automate internal systems to support STP requirements of money managers, mutual funds, hedge funds, brokers, plan sponsors, banks, corporate trusts, and insurance companies. Eagle provides solutions for portfolio management, investment accounting, performance measurement, attribution, AIMR/GIPS compliance, reporting, messaging, reference data management, and outsourcing. To learn more about Eagle’s solutions, contact us at 1.800.810.3819 (US) or + 44 (0)20 7163 5700 (Europe), e-mail [email protected], or visit www.eagleinvsys.com.
About Mellon Financial Corporation
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world’s leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources services and treasury services. Mellon has approximately $3.2 trillion in assets under management, administration or custody, including $625 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. News and other information about Mellon are available at www.mellon.com.
