BOSTON, March 24, 2015 /PRNewswire/ -- Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, today announced that two of the world's leading investment management firms, Capital Group Companies, Inc. and Invesco Ltd., chose Eagle's accounting solution in 2014 to process and facilitate their investment accounting and reporting needs. With the addition of these two clients, $9 trillion is now processed on the Eagle Accounting platform, marking a new milestone for the solution.
The Capital Group, with $1.4 trillion of assets under management, is the latest fund manager to implement Eagle Accounting, fully converting to Eagle's multi-currency, multi-basis mutual fund NAV accounting platform from its legacy system. The Capital Group joins several other leading financial firms that have deployed Eagle's investment accounting solution to help upgrade back-office operations and increase service and reporting capabilities for their fund account holders.
Invesco, a leading independent global investment management firm with $809 billion of assets under management, also chose Eagle Accounting. An Eagle client since 2009, Invesco began the implementation to create an Investment Book of Record (IBOR) that will span across the firm's extensive geographies and multiple product categories, including equity, fixed income, balanced and alternative asset classes. Invesco initially tapped Eagle to overhaul its global data architecture program and has since implemented Eagle's data management and performance measurement and attribution solutions.
"Through our ongoing work with industry-leading firms, we provide an innovative investment accounting solution that efficiently supports our clients' growth plans," said Mal Cullen, Eagle's CEO. "By collaborating with the world's largest asset managers, we are enhancing our offerings for the vast majority of them. More and more, investment firms globally are seeking to replace legacy platforms with variable cost technology solutions to help them comply with regulatory change, solve for their complex ABOR and IBOR needs, and support new instruments, products and geographic growth."
Eagle Accounting offers clients multiple solutions through a single platform, employing scalable architecture that can grow with clients' operations over time to support increased transaction volume, additional lines of business, new complex security types or corporate actions, and growth across regions and currencies.
"We have worked alongside and collaborated with Eagle for the past four years to implement a truly robust and agile solution and Eagle has met our expectations every step of the way," commented Brian Bullard, Senior Vice President, Investment Operations at Capital Group. "We converted our entire retail fund book of business to the Eagle Accounting platform, so we needed a best-in-class provider that could take on a project of this scale and complexity. With Eagle's accounting solution in place, we have a powerful and flexible platform that supports growth into new markets and facilitates our ability to grow quickly, easily and at minimal cost."
Eagle's parent company BNY Mellon also uses Eagle Accounting to support its U.S. Asset Servicing clients, a partnership that helps shape Eagle's offering for large, global enterprises.
2014 represented a landmark year for Eagle. Beyond the growth of the company's accounting platform, Eagle's business continues to see strong growth across its data management and performance solutions, with over 90% of new clients choosing to use Eagle ACCESSSM, its secure, private cloud. Eagle now serves over 160 global clients with combined assets under management exceeding $22 trillion.
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 ACCESSSM. 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.
About BNY Mellon
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safekeeping assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.
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 Dec. 31, 2014, BNY Mellon had $28.5 trillion in assets under custody and/or administration, and $1.7 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). Learn more at www.bnymellon.com, or follow us on Twitter @BNYMellon.
SOURCE Eagle Investment Systems LLC