In other news, BNY Mellon opens an Irish hub, a Swedish firm taps Bloomberg & Apex hires from Broadridge.
Clearwater Analytics & JPAM Connect Systems
JPMorgan Asset Management (JPAM) has launched a strategic effort to integrate its Morgan Money global trading platform with a key accounting and reporting platform from Boise, Idaho-based Clearwater Analytics, officials say.
Morgan Money is a multi-currency, open architecture trading and risk management system that helps customers to view aggregated account information across their entire portfolio, officials say.
Clearwater Analytics offers software-as-a-service (SaaS)-based investment management, accounting, reporting, and analytics solutions, officials say.
The joint solution will make it easier for financial professionals to have a global, connected view of their investment portfolios, enabling them to make real-time investment decisions on the Clearwater and Morgan Money platforms, according to officials.
“Corporate treasurers frequently access multiple systems to invest in a combination of money market mutual funds and separately managed accounts,” officials say. The integration of Clearwater and Morgan Money platform is intended to “help empower institutional investors to easily log in to the joint solution and gain a consolidated view of balances, exposures, and counterparty risks,” officials says.
“Users of the solution can put insights into action to understand how trades might impact their portfolio. As a result, corporate decision makers can easily make smarter investment decisions, all done intuitively via a holistic view of their holdings,” officials add.
“JPMorgan Asset Management is committed to delivering innovative solutions that simplify investment decisions for our clients,” says Paul Przybylski, global head of product strategy and morgan money at J.P. Morgan Asset Management, in a prepared statement. “By leveraging Clearwater’s analytics platform, institutional investors can view comprehensive, real-time insights into their portfolios and the broader money market mutual fund landscape.”
JPMorgan Asset Management has assets under management (AUM) of $2.67 trillion as of March 31/2023, officials say. The firm offers global investment management services in equities, fixed income, real estate, hedge funds, private equity and liquidity to institutions, retail investors and high net worth individuals, officials say.
Clearwater Analytics offers investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management, officials say.
BNY Mellon Hiring for New Digital R&D Hub in Dublin
BNY Mellon is hiring staff for a new Digital R&D Hub in the capital of the Republic of Ireland to “drive innovation in the areas of artificial intelligence (A.I.), machine learning, and data analytics for BNY Mellon clients globally,” officials say.
“The development includes an initial €8 million investment ($8.6 million) with support from IDA Ireland, which will … expand on existing technology capabilities located in Ireland. The investment will also lead to a more than doubling of the digital team in Dublin and the initial creation of 30 specialist jobs by the end of 2025,” officials add.
The firm reports that it is “seeking to recruit a range of A.I. and technology specialists in Ireland, including experienced data scientists, and product and design thinking specialists. Based in Ireland, the team will help deliver on the bank’s European and global R&D ambitions.”
“Having a leading-edge firm such as BNY Mellon choose Dublin for its Global Digital R&D Hub is a real vote of confidence in Ireland and our talented workforce,” says Simon Coveney, Ireland’s Minister for Enterprise, Trade and Employment, in a prepared statement.
Developers based in Ireland “contributed to BNY Mellon’s Predictive Analytics for Trade Settlement, which uses AI and other innovative technologies to help the industry better predict settlement failures,” officials say.
BNY Mellon already has employees in Dublin, Cork and Wexford serving traditional and alternative asset managers, banks, pension funds, insurance companies and corporates, including asset servicing, alternative investment services and corporate trust.
Swedish Firm to Implement Bloomberg Buy-Side Systems
Lannebo Fonder AB, an investment manager of 19 funds in Sweden, is a new customer of Bloomberg Buy-Side Solutions offerings such as Bloomberg AIM, an order and investment management solution, and PORT Enterprise, a portfolio and risk analytics solution, officials say.
“Lannebo Fonder AB will utilize Bloomberg AIM to streamline and future proof its order management operations as it scales and completes a refresh of its operating model design,” according to the announcement.
“With an integrated portfolio and order management system, Lannebo Fonder AB can better manage its portfolios across the investment lifecycle. PORT Enterprise also offers centrally administered batch reporting capabilities,” officials add.
“We’re heavily focused on future-proofing our tech stack and systems architecture at Lannebo Fonder AB,” says Jessica Malmfors, CEO of the Stockholm-based firm, in a prepared statement.
Lannebo Fonder describes itself as an independent fund management company in Sweden. The firm “manages 19 funds with a total AUM of SEK ~75 billion. The company is focused on active management of funds and invests in equities and corporate bonds mainly in the Nordics,” officials say.
Apex Group Taps Broadridge for Executive Committee Post
Apex Group Ltd., a financial services provider, has hired the former president of Broadridge International Samir Pandiri to be the new group president and member of the Apex executive committee, officials say.
At Broadridge Financial Solutions, Pandiri was responsible for the post-trade technology, global proxy and asset management data and technology businesses outside of North America, with a special focus on Europe and Asia, officials say. He also serves on the board of the New Jersey State Investment Council.
Pandiri, who will report to Apex founder and CEO Peter Hughes, will oversee key strategic functions to enable Apex Group’s next phase of development including operations, technology product innovation, risk and human resources, officials say.
Before Broadridge, Pandiri worked at BNY Mellon, serving as Global CEO of the Asset Servicing Division and a member of the senior leadership team, officials say. He also served as CEO of Asset Servicing in the Americas and CEO of BNY Mellon’s Alternative Investment Services (AIS) and AIS Prime Custody businesses.
Apex Group reports that it has had more than 40 acquisitions since 2017, and that it wants to continue its growth.
“With its global presence and local insight, Apex Group is now well-poised for further growth of its data-enabled service offering, and I look forward to working closely with Peter and the executive committee to drive the next phase of its evolution,” Pandiri says.
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