In other news, Broadridge hires from Bloomberg, Riskalyze heightens integration with RightCapital, and AcadiaSoft rebrands itself.
JPMorgan Asset Management Boosts ESG Offerings
JPMorgan Asset Management has acquired Campbell Global, described as “a forest management and timberland investing company,” as a way of facilitating transitions to a low-carbon economy and opportunities for those investors that want to support environmental, social, and governance (ESG) concerns, officials say.
JPMorgan officials declined to disclose the terms of the acquisition, which was via BrightSphere Investment Group, the parent company of Campbell Global. “The acquisition does not impact current investment strategies for Campbell Global clients,” officials say. The transaction is slated to close during the third quarter of this year.
Based in Portland, Ore., Campbell Global reports that it has $5.3 billion in assets under management (AUM) and manages over 1.7 million acres worldwide with over 150 employees.
“All employees will be retained and Campbell Global will remain headquartered in Portland. The deal will make J.P. Morgan a significant benefactor for thriving forests around the world, including in 15 U.S. states, New Zealand, Australia, and Chile,” officials add. “Carbon sequestration in forests worldwide will play an important role in carbon markets, and JPMorgan Asset Management expects to become an active participant in carbon offset markets as they develop.”
“We made our first institutional investment in timberland 35 years ago, have since planted over 536 million trees, and emerged as a leader in sustainable forestry. We look forward to continuing these efforts with JPMorgan,” says John Gilleland, CEO for Campbell Global, in a prepared statement.
The Campbell Global investment offering will be part of J.P. Morgan’s $168 billion AUM Global Alternatives franchise, officials say.
Broadridge Taps Bloomberg for New Itiviti President
Ray Tierney
Post-trade systems and services provider Broadridge Financial Solutions has named Ray Tierney, the former global CEO of Trading Solutions at Bloomberg LP, as the new president of Itiviti, a maker of front-office offerings.
In March, Broadridge expanded its front-to-back-office systems and networking wares via its acquisition of Itiviti Holding AB for approximately $2.5 billion from Nordic Capital.
Itiviti makes front-office trade order and execution management systems, FIX connectivity, and network offerings that are complementary to Broadridge’s post-trade product suite and capital markets capabilities. The Broadridge-Itiviti combination is expected to help clients optimize “balance sheet utilization across equities, fixed income, exchange-traded derivatives, and other asset classes,” officials say.
“Tierney brings 35 years of capital markets experience to Broadridge,” officials say. His other major post at Bloomberg includes serving as CEO and president of Bloomberg Tradebook. He also spent 18 years at Morgan Stanley, “overseeing distribution teams in the securities division and as global head of trading and execution in the investment management division.”
Tierney will oversee the management and growth of the Itiviti front-office OEMS and connectivity solutions. Rob Mackay, CEO of Itiviti since 2019, will become a senior advisor, officials add.
RightCapital Gets New Access to Riskalyze’s Analytics
Riskalyze, a portfolio analytics platform vendor, and RightCapital, a financial planning software company, have improved the integration between their offerings so that RightCapital clients can access Riskalyze’s model portfolios and import position-level account data, officials say.
RightCapital helps financial advisors work with clients to refine their financial plans and the Riskalyze link will help with those financial decisions, officials say.
“Our enhanced integration with RightCapital brings an even more streamlined workflow straight to advisor desktops,” says Aaron Klein, CEO of Riskalyze, in a prepared statement.
AcadiaSoft Shortens Name to Acadia
Chris Walsh
AcadiaSoft has changed its name and branding to Acadia to mark the vendor’s transition from its start as a collateral management automation provider to an integrated risk management services vendor for derivatives transactions, officials say.
“The brand refresh comes after the company further bolstered its risk management capabilities in February with the acquisition of Dublin-based Quaternion,” vendor officials say. “The shift to Acadia comes at a time when the derivatives industry is at a massive inflection point, with the next decade ushering in the future of integrated risk management.”
Acadia officials add that the vendor is working with the industry to streamline “risk measurement, risk analysis, and risk mitigation,” which follows Acadia’s efforts to standardize collateral management.
“We are still in the early stages of this seismic shift toward the future of risk management, but demand for an integrated, automated, and centralized risk management solution is growing by the day,” says Chris Walsh, CEO of Acadia, in a prepared statement.
Acadia already has the backing of 16 industry participants and market infrastructures, and its technology is used by more than 1,600 financial services firms, officials say.
The Acadia headquarters will remain in Norwell, Mass. The vendor has offices in Boston, Dublin, Düsseldorf, London, New York, and Tokyo.
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