Old Mutual Wealth Selects Eagle Data Management to Meet Solvency II Requirements

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Oct 21, 2015, 10:26 ET

LONDON, Oct. 21, 2015 /PRNewswire/ -- Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, today announced that Old Mutual Wealth, one of the largest wealth management businesses in the United Kingdom, has selected Eagle's enterprise data management solution to support its Solvency II compliance programme. Deployed over Eagle's secure private cloud, Eagle ACCESS^SM, the solution will centralise and streamline Old Mutual Wealth's data management processes to support the creation of new regulatory reports on assets.

Eagle's knowledge and experience in Solvency II compliance was a key consideration for Old Mutual Wealth. Additionally, Eagle's ability to manage complex and varied data streams in multiple formats, coupled with its fund look-through capabilities, were also critical factors for Old Mutual Wealth in choosing the Eagle platform.

Old Mutual Wealth will initially leverage Eagle to source, normalise, validate, enrich and store its data in the QRT formats mandated as part of the Solvency II reporting and disclosure requirements under Pillar 3. Eagle's enterprise-wide solution will help fulfill a key requirement to manage the firm's Solvency II needs across its UK and International businesses.

"Eagle stood out for its ability to help us meet the strict asset reporting requirements set out under Solvency II. The firm's existing infrastructure, local support structure and their solution's ability to manage complex data streams in multiple formats set them apart," said Peter Bryan, Financial Controller at Old Mutual Wealth.

"Financial institutions are being held to a higher standard of data governance, and the need for exemplary data quality, alongside transparent and demonstrable data processing, continues to grow," said John Legrand, Managing Director and Head of EMEA and APAC at Eagle. "The demand for more detailed reporting brings with it more intensive data requirements. Increasingly we are seeing firms need to implement more robust data management solutions as the source for their reporting commitments across different regulatory requirements, and to provide credible audit trails and assurance to its constituents."

About Old Mutual Wealth

Old Mutual Wealth is the leading wealth management business in the UK and internationally, helping people secure their financial future.

It has an adviser and customer offering spanning:

Financial advice via the Intrinsic network
Platform based wealth management products and services via Old Mutual Wealth in the UK and Old Mutual International globally
Asset management solutions via Old Mutual Global Investors
Discretionary investment management via Quilter Cheviot

Old Mutual Wealth oversees £101.0 billion in customer investments (as at 30 June 2015).

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 17 million customers across the world and has a total of £335.7 billion assets under management (as at 30 June 2015).

About Eagle Investment Systems
Eagle is committed to helping financial institutions worldwide grow assets efficiently with its award-winning portfolio management suite of data management, investment accounting and performance measurement solutions that are delivered over its secure private cloud, Eagle ACCESS^SM. Eagle deploys trusted solutions and services that create operational efficiencies and help reduce complexity and risk. Eagle Investment Systems LLC is a subsidiary of BNY Mellon. Additional information is available at www.eagleinvsys.com or follow us on Twitter @Eagleinvsys.

About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Sept. 30, 2015, BNY Mellon had $28.5 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

SOURCE Eagle Investment Systems LLC