LONDON and BOSTON, Oct. 8, 2014 /PRNewswire/ -- Eagle Investment Systems LLC, a leading provider of financial services technology and a subsidiary of BNY Mellon, today announced that Standard Bank South Africa, will implement Eagle's accounting and enterprise data management solutions across its Private Clients business. The technology solutions will be hosted on Eagle ACCESSSM, Eagle's secure private cloud.
Standard Bank Group's Private Clients business is a leading full-service wealth management firm with approximately $12 billion in assets under management worldwide. The Private Clients business offers holistic financial solutions in the areas of wealth management, specialized lending, risk solutions, trust, fiduciary and transactional banking. To manage the expected growth within the Private Clients business, Standard Bank embarked on a search for a solution provider with proven experience in the international marketplace that could also meet the local South African investment requirements and regulations.
"We are always looking to create operational efficiencies and methods for cost-savings by leveraging the best providers and services available," said Penny Bibby, chief operating officer at Standard Bank Private Clients. "In our search for a technology solutions provider, Eagle stood out amongst both international and local system providers, and we were pleased to see how their enterprise-wide solution has already been proven successful with other premier clients in South Africa. Our adoption of Eagle's software and deployment on Eagle ACCESS SM will enable us to establish a firm-wide, state-of-the-art, secure technology solution that will help us to centralize our platform much more easily and efficiently."
"Our engagement with Standard Bank will allow us to demonstrate not only our expansive solution capabilities, but also to share both our global and local best practices and staff expertise," said John Legrand, Eagle managing director, EMEA and APAC. "We look forward to working closely with Standard Bank as an Eagle client and extending the strategic relationship the group already shares with BNY Mellon."
Eagle is enjoying strong traction within EMEA and the South African investment market. Standard Bank Private Clients joins Prescient as part of Eagle's client base in South Africa.
About Standard Bank Group's Private Clients Business
Private Clients offers wealth management and banking solutions to individuals who typically have net investable assets in excess of USD1million. With offices located in South Africa, Kenya, Nigeria, London, Mauritius and Jersey they offer an international experience and one solution for their clients' on-and offshore financial planning needs. For more information, please visit www.standardbank.com/privateclients
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 June 30, 2014, 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 or follow us on Twitter @BNYMellon.
SOURCE Eagle Investment Systems LLC