BOSTON, June 2 /PRNewswire/ --
- Project supports outsourced servicing of institutional business to BNY Mellon Asset Servicing
Eagle Investment Systems LLC, a leading provider of financial services technology and a subsidiary of The Bank of New York Mellon, announced today that its data management and mutual fund performance solutions are now in operation at Eaton Vance after a seven-month project implementation. The project, managed by Eaton Vance, involved automating and centralizing data and transitioning from Eagle's hosted mutual fund performance solution to its installed version.
Eaton Vance selected Eagle's data management solution to improve operational efficiency and data quality. Eagle's solution helped Eaton Vance consolidate its view of assets from multiple custodians, centralize its security reference data, and distribute the data to other middle- and back-office systems. The automation of data also directly supported Eaton Vance's decision to outsource the servicing of its institutional business to BNY Mellon Asset Servicing, which provides back-office, custody, accounting, and performance services for institutional separate accounts and non-registered funds.
"We chose Eagle's solution to build our investment systems data warehouse knowing we had a short timeframe to complete a complex system integration project. Having previously worked with Eagle, we understood the flexibility of its solutions and knew what needed to be done to meet our tight deadline and multiple requirements," said John Shea, vice president and chief information officer of Eaton Vance. "In collaborating with Eagle, and applying its best practices, we continue to centralize, automate, and publish our data to internal and external systems quickly and efficiently."
In 2006, Eaton Vance wanted to migrate to a new system quickly and efficiently, and the firm selected mutual fund performance via Eagle's ASP service, Eagle ACCESS, as an interim solution. In doing so, Eaton Vance was quickly provided access to new performance functionality and increased user flexibility.
"Eaton Vance's selection of Eagle reinforces our leadership position in the data management arena," said John Lehner, president of Eagle. "More and more, we see clients signing with us for smaller-scale projects, which eventually leads to the selection of additional solutions as their business needs change. We look forward to growing our relationship with Eaton Vance as its business needs continue to evolve."
About Eaton Vance
Eaton Vance Corp., a Boston-based investment management firm, is listed on the New York Stock Exchange under the symbol EV. Through its subsidiaries, Eaton Vance Corp. advises and distributes investment products for individual and institutional clients. As of March 31, 2008, the Company had US$150.9 billion of assets under management.
About Eagle Investment Systems
Eagle Investment Systems LLC is a global provider of financial services technology, serving the world's leading financial institutions. Eagle's Web-based systems support the complex requirements of firms of any size including institutional investment managers, mutual funds, hedge funds, brokers, public funds, plan sponsors, and insurance companies. Eagle is committed to providing enterprise-wide, leading-edge technology and professional services for investment accounting, data management, performance measurement and information delivery. Eagle's product suite is offered as an installed application or can be hosted via Eagle ACCESS, Eagle's application service provider. To learn more about Eagle's solutions, contact email@example.com or visit www.eagleinvsys.com.
About BNY Mellon Asset Servicing
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, back-office services and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies.
About The Bank of New York Mellon Corporation
The Bank of New York Mellon Corporation (NYSE: BK) is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than US$23 trillion in assets under custody and administration, more than US$1.1 trillion in assets under management and services US$12 trillion in outstanding debt. Additional information is available at bnymellon.com.
Kendra Ahern, Eagle Investment Systems LLC, +1-617-219-0209, firstname.lastname@example.org