* State Street Corporation, a provider of services for global investors, and J. & W. Seligman & Co. Incorporated (Seligman), a New York-based investment manager and adviser, announced that they have signed a letter of intent to expand their existing relationship to include outsourcing of operations support for Seligman's $25 billion in assets under management.
* SunGard Securities Processing, an operating group of SunGard, announced that Michael Cox has been appointed president of SunGard Securities Processing, provider of real-time transaction-processing systems for broker/dealer equities and fixed income, exchange-traded derivatives, futures and options, and bank funding and investment portfolio management. In addition, Michael Nemerowski has been appointed senior vice president of strategic planning.
* JPMorgan Investor Services Europe, Middle East and Africa (EMEA) announced that it has been appointed global custodian by E.ON Energie AG, part of E.ON AG the largest private utility worldwide. JPMorgan will be responsible for global custody, securities lending, as well as mutual-fund accounting and reporting duties for all investment categories.
* Trema, a provider of strategic software solutions for the financial industry, announced that the European Investment Bank has selected Trema Finance KIT, a real-time straight-through-processing treasury, cash, risk and asset-management system, as the backbone system to manage its entire treasury, borrowing and lending operations. The EIB will use Trema Finance KIT to re-engineer and integrate its processes, manage risk and gain greater efficiencies by consolidating its operations into one system.
* A new program that helps integrate network attached storage (NAS)-based applications was released by EMC Corporation on June 3. The EMC NAS Partner Program will allow EMC to create cooperative-support agreements with leading technology companies in such fields as anti-virus and networking. Using their E-Lab Tested program in Massachusetts, EMC will qualify core NAS-based applications with it's NAS solutions from charter companies of the program including Cisco Systems and Citrix Systems. Overall the Partner Program hopes to take some stress out of the density of the NAS systems by qualifying configurations with pre-defined application environments.
* Adhesion Technologies, a provider of financial-account consolidation software, has issued the latest version of their software that allows for the convergence of financial data into a useful manageable platform. Bill and invoice presentment is one of the new features offered in this software, creating a location where both a client's account statements from the biller and their other assets can be viewed together. This new edition also takes multi-currency issues into account, allowing portfolios with multiple-currencies to be administered easier. With both of these additions to the software, Adhesion Technologies hopes to provide their client's with a large-scale view of their financial status.