LONDON, Sept. 26, 2018 /PRNewswire/ -- Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, announced today that Newton Investment Management ("Newton") has selected Eagle Accounting to replace its legacy investment accounting platform.
Newton, a London-based global investment management subsidiary of BNY Mellon, provides investment products and services to a broad range of clients, including retail and institutional investors, with assets under management of £50.8bn ($67.1bn) as at 30 June 2018. Newton is Eagle's longest standing UK-based client, having utilised Eagle's enterprise data management capabilities since 2001. Earlier this year Newton completed its migration onto Eagle ACCESSSM, Eagle's secure private cloud to support its business growth and improve agility.
Eagle Accounting was selected for its ability to meet Newton's evolving business requirements and to perform specific accounting functions not supported by its legacy accounting technology, including enhanced derivatives coverage as well as providing a 360-degree view of positions and related underlying activity. The new platform will be deployed over Eagle ACCESSSM.
"We are excited about extending our use of Eagle to enhance our investment accounting capabilities," said John Snow, Chief Technology Officer for Newton. "The Eagle team took the time to understand our complex business requirements and help us understand how we would use the platform on a day-to-day basis to support our needs. We look forward to using Eagle Accounting as we continue to evolve and grow our assets under management."
"Newton's selection of Eagle Accounting, following an extensive evaluation process, is testament to the quality of our investment accounting capabilities as well as that of our team," said Mal Cullen, CEO for Eagle. "Key to our selection was our ability to demonstrate continued investment in the platform and a wider technology strategy that satisfied Newton's key business requirement for a solution that will support their business needs now and well into the future."
Newton Investment Management
Newton Investment Management Ltd (NIM) is a London-based global investment management subsidiary of The Bank of New York Mellon Corporation. NIM and Newton Investment Management (North America) Limited (NIMNA) are authorised and regulated by the Financial Conduct Authority. NIMNA is also registered with the US Securities and Exchange Commission. Registered address, The Bank of New York Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England No. 01371973 (NIM) and No. 2675952 (NIMNA).
With assets under management of £50.8bn ($67.1bn) as at 30 June 2018, Newton provides investment products and services to a wide range of clients, including pension funds, charities, corporations and (via BNY Mellon) individuals. News and other information about Newton is available at www.newtonim.com and via Twitter: @NewtonIM.
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 or follow us on Twitter @Eagleinvsys.
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. As of June 30, 2018, BNY Mellon had $33.6 trillion in assets under custody and/or administration, and $1.8 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.