ARKA-INVESCO, a Polish subsidiary of U.S.-based INVESCO, is serving as the initial overseas installation site of Global Investment Systems' (GIS) portfolio management and accounting system, IMPACT2. ARKA-INVESCO has also become the latest international firm to install GIS' MFACT 5.0, the firm's mutual fund accounting system. IMPACT2 is designed to run on a PC-LAN using 32-bit architecture and open database structures. It operates on both Novell Netware and Windows NT servers.
The BISYS Group reported net income of $12.3 million, or 44 cents per diluted share for the first fiscal quarter of 2000, compared to a net loss of $9.2 million, or 35 cents a share, for the comparable period last year. Revenues for the period increased to $132.3 million, up 30% from $101.9 million last year. Results for the first quarter included a one-time write off of $19.2 million, for acquired in-process research and development and other merger-related charges associated with the purchase of the Greenway Corp. Excluding one-time charges, net earnings would have been $10 million dollars.
ICM Conferences is holding its second annual "Nordic Pensions" conference at the SAS Radisson Scandinavia Hotel in Copenhagen, Denmark on the 23rd and 24th of November. The conference will examine key features of the Nordic Market and will also highlight the prospects for successful business development within the region. It will feature speakers from organizations that include the Swedish Premium Pension Authority, Danish Ministry of Finance, Norwegian Ministry of Finance, SPP, Skandia Life and Wassum Investment Network. For further information, call Graeme Coombes at +44 (0) 171 647 2303.
The Security Investment Company of Kansas City has added a team of six professionals, including stockbrokers J. Peter Gattermeir, Dennis Hudson and Sandra Carvajal, to expand the firm' s services to institutional and private clients, provide investment research on national and regional companies, and offer market-making and liquidity-management services for stocks of publicly held corporations. Gattermeir, a 33 year veteran of the securities industry, has been named executive vice president. Previously, he was the senior member of the Institutional Sales and Research department of George K. Baum & Co. Carvajal has been named senior vice president, responsible for serving institutional, corporate and private clients. She worked alongside of Gattermeir, providing technical support to his team at George K. Baum. Hudson, a broker with 40 years experience, has been named vice president in the company's private client group.