BOSTON, TORONTO and MONTREAL, May 16, 2011 /PRNewswire/ -- Eagle Investment Systems LLC, a leading provider of financial services technology and a subsidiary of BNY Mellon, today announced that Desjardins Asset Management, the investment management specialist of Desjardins Group, the leading cooperative financial group in Canada and the sixth largest in the world, has implemented its data management solutions on Eagle ACCESS(SM) for its asset management business.
The key driver for deploying the Eagle platform was Eagle's commitment to collaborate with Desjardins Asset Management to build out International Financial Reporting Standards (IFRS) requirements in support of Canadian and global financial reporting standards that have taken effect. Eagle introduced IFRS support in its V10.0 software version which was released in 2009, and it continues to add functionality to further address client needs for international financial reporting standards. Eagle's data management platform was selected to provide a foundation for future integration of Desjardins Asset Management's other applications and business needs.
"Eagle's innovative technology and continued investment in research and development are reasons we selected Eagle. A significant aspect of this decision was based on our collaboration with Eagle to support its build out of IFRS," said Gregory Chrispin, chief operating officer, Desjardins Asset Management. "Our previous technology was not current with IFRS or the instrument coverage necessary to grow our business, so it was important for Desjardins Asset Management to move onto a new data management platform and investment accounting solution."
"We are seeing significant interest from firms both in Canada and globally that are seeking systems to improve their operational efficiency and workflow by implementing a single integrated asset management platform, rather than working with systems that require multiple integration points and interfaces," said Mal Cullen, Eagle's head of Canadian Operations and Eagle ACCESS(SM).
About Desjardins Asset Management
Desjardins Asset Management, the investment management specialist of Desjardins Group, the leading cooperative financial group in Canada and the sixth largest in the world, manages in excess of $36 billion (as at December 31, 2010). These funds come from the various mandates entrusted to it by its clients and Desjardins partners. Desjardins Asset Management helps its clients and partners reach their strategic objectives by earning competitive returns while ensuring an optimal balance between risk and returns. With offices in Montreal, Toronto and Vancouver, Desjardins Asset Management is active in securities investments, management of managers, financial strategy and asset allocation, real estate investments and mortgage investments and institutional financing. For more information, visit www.dglobal.com.
About Eagle Investment Systems LLC and BNY Mellon
Eagle Investment Systems LLC, a subsidiary of BNY Mellon, creates operational efficiencies for global financial institutions by delivering solutions for data management, investment accounting, and performance measurement and attribution. Its solutions are deployed via Eagle ACCESS(SM), its secure private cloud, which hosts and provides on-going support of applications and infrastructure, helping to reduce complexity and risk. Additional information is available at www.eagleinvsys.com.
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, and execution services.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt, and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at bnymellon.com.
SOURCE Eagle Investment Systems LLC