BOSTON – March 30, 2016 – Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, today announced they have been selected by Principal Global Investors (PGI), the asset management arm of the Principal Financial Group, to provide a portfolio accounting solution hosted on Eagle ACCESSSM, and to achieve an investment book of record (IBOR).
PGI made the decision to introduce a single, shared, consolidated technology platform across its enterprise to achieve greater operational agility and efficiency, with the key requirement to give its boutique asset managers across the globe the flexibility to operate independently and on a 24x7 basis. Their selection criteria focused around their desire to leverage a data centric model, exception-based workflow monitoring as well as a mature hosted offering.
As part of the implementation, PGI is replacing its legacy accounting-centric platform and batch updates with Eagle Accounting, which can deliver IBORs for multiple regions. By offering a centralized platform across multiple boutiques, PGI is able to adapt and implement change more quickly across the organization, share services across its operations teams, incorporate new tools and processes as well as to readily provide support for new instruments and products.
“Asset management is a data intensive business. The Eagle IBOR solution fits well into our future state architecture and will support the complex multi-asset portfolios we manage on behalf of our global clients,” said Brian Ness, chief information officer at Principal Global Investors. “Eagle’s collaboration with its parent company BNY Mellon was also a significant factor in our selection in part due to our longstanding relationship with BNY Mellon, but also because it gives us the confidence that we have a long-term technology vendor we can grow with over time.”
“Principal Global Investors selected Eagle ACCESSSM as its technology platform after an extensive competitive process,” said Mal Cullen, chief executive officer at Eagle. “Our flexible accounting solution enables PGI to support its multi-boutique, multi-regional model while delivering the agility and efficiency of a single centralized platform. It’s an endorsement of both the expertise and commitment of our team and the quality of our solutions. We have a long history of supporting asset managers with complex operating structures and look forward to working closely with PGI.”
Notes to editors
About Principal Global Investors
Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group®, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $379.9 billion in assets primarily for retirement plans and other institutional clients1.
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 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 and more than 100 markets. As of Dec. 31, 2015, BNY Mellon had $28.9 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.
1As of December 31, 2015. Principal Global Investors is the asset management arm of the Principal Financial Group® (The Principal®) and includes the asset management operations of the following subsidiaries of The Principal: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Principal Enterprise Capital, LLC; Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Columbus Circle Investors; Edge Asset Management, Inc.; Morley Financial Services Inc.; Finisterre Capital, LLP; Origin Asset Management, LLP; Principal Global Investors (Europe) Limited; Principal Global Investors (Singapore) Ltd.; Principal Global Investors (Australia) Ltd.; Principal Global Investors (Japan) Ltd.; Principal Global Investors (Hong Kong) Ltd. Marketing assets under management may include assets that are managed by Principal International for which Principal Global Investors provides, or may provide access to proprietary investment research, recommendations, model portfolios or other advisory related services or systems. Assets under management includes assets managed by investment professionals of Principal Global Investors under dual employee arrangements with other subsidiaries of The Principal and assets managed in accordance with investment advice provided by Principal Global Investors through the delivery of a model.
1"The Principal Financial Group" and "The Principal" are registered trademarks of Principal Financial Services, Inc., a member of the Principal Financial Group.