Royal Bank Subs Select Bisys
Voyageur Asset Management and Jones & Babson, subsidiary companies of Royal Bank of Canada, have selected Bisys, a business-process outsourcer to provide a fund-servicing platform. The Bisys platform will support four mutual-fund groups, Great Hall, Babson, J&B, and Investor's Mark Series Funds, which total $12 billion in assets. The platform includes fund accounting, sub-administration and transfer-agency services.
WestLB Chooses Princeton's ePAM
WestLB Asset Management, the investment-management arm of German bank WestLB AG, has chosen Princeton Financial Systems' ePAM, a software-hosting service for its portfolio-management and accounting systems. The Houston-based investment manager, which manages $7 billion portfolio of fixed-income investments, will use ePAM for Securities and ePAM for Mutual Funds. Princeton Financial will remotely house WestLB's databases as an application service provider.
Scottish Investment Firm Implements HiInvest
Scottish Widows Investment Partnership has implemented the first phase of Hilnvest, a front-office package from DST International. Swip is using HiCompliance for post-trade position keeping and compliance monitoring for its front-office fund managers and compliance staff. Swip plans to roll out modules for order management, decision support and enterprise compliance, as well as DSTi's HiReporting, HiPerformance and HiMarketData applications in offices in North America, the United Kingdom and Tokyo.