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Eagle’s Riley to Retire at End of Year
Eagle Investment Systems’ chief executive, Jack Riley, will retire at the end of the year, 13 years after co-founding the company. David Palten, another co-founder and currently president of Eagle, will assume the additional role of CEO, reporting to Jim Palermo, vice chairman of Mellon Financial Corp. and president of Mellon Global Securities Services. Riley…
Former Thomson Sales Head Lait Emerges at Standard & Poor’s
Standard & Poor’s has hired Sue Lait, former European sales director at Thomson Financial in London, to lead sales and support for S&P’s investment services business. Lait spent nine years at Thomson Financial, which she left earlier this year having being only recently promoted to sales head. Prior to that she ran the strategic accounts…
Eaton Vance, J.P. Morgan Fleming Sign Up for FT Interactive Data Fair Value
Eaton Vance Management and J.P. Morgan Fleming Asset Management have signed up for FT Interactive Data’s Fair Value Information Service. The investment management firms will use the service to support fair valuation procedures for international equities held in mutual fund portfolios. The Fair Value Information Service helps funds derive fair value estimates for securities for…
Basel II Plan Under Attack for Impact on Costs, Funding
The draft Basel II proposals on risk regulation have been attacked by two industry bodies in the past month. First, the Institute of International Finance (IIF) expressed concern about the potential costs to industry participants of accommodating what it called the complexity of the proposed new framework, and said there was a lack of coordination…
Fame Partners with CSFB for Bond Pricing, Analytics
Fame Information Services has signed a strategic agreement to market Credit Suisse First Boston’s fixed-income and convertible data/analytics offerings. CSFB’s services, powered by descriptive data from FT Interactive Data, are targeted at the research, compliance, and trading-room decision-support areas. By augmenting CSFB’s trade desk pricing and analytics with FT ID’s descriptive data, Fame clients will…
Barra, Reuters’ Lipper Team Up To Offer Risk Factor Data
Barra and Lipper, a Reuters subsidiary, have released the Lipper-Barra Mutual Fund Risk Factor service, which ranks the relative riskiness of mutual funds. The service is aimed at allowing investors and their advisors to compare competitive or complementary funds on the basis of the risks that they incur. The measure is based on Barra’s risk…
ADP Wilco Upgrades Its Gloss Securities Processing System
Automatic Data Processing’s Wilco unit has upgraded its Gloss international securities processing system. The latest version – Version 5 – includes extended instrument coverage and broader market connectivity. Gloss 5 now supports international fixed-income securities, repurchase agreements and stock lending. The system complies with upcoming mandatory changes to the Swift messaging format and now connects…
Australia’s QIC Fund Manager Implements Eagle’s Pace
QIC, an Australian wholesale fund manager, has implemented Eagle Investment Systems’ Pace portfolio management system. The system will allow the fund manager to extract, scrub, enrich and store investment data from multiple sources into a single repository, enabling it to make use of Pace’s performance measurement, attribution, reporting and data monitoring features.
The Interview: Reuters’ Data Trek to the Enterprise
Reuters has long been a dominant player in front-office data. Can it leverage that position to gain critical mass throughout the enterprise? RDR talks to reference data chief Kevin Bradshaw In the aftermath of its abandoned Synetix venture with Belgium’s Capco, Reuters is embarking on a reference data strategy of its own, based around its…
Loomis Sayles to Use Heliograph’s TradeFlow Platform
Loomis Sayles, a U.S. investment management firm, has installed Heliograph’s TradeFlow platform to help manage the settlement process, and is now directing 70% of its transactions through the system. TradeFlow additionally is allowing Loomis Sayles to offer its clients’ custodians the choice between receiving Swift messages or electronic faxes, an important capability since many smaller…