HEERLEN, Netherlands -- Stichting Pensioenfonds ABP has licensed the PAM investment management system from Princeton Financial Systems.
PAM will replace an internally developed system for fixed-income securities and the CAMRA system from SS&C Technologies for equities at the E137.5 billion ($147 billion) pension fund for Dutch civil service workers. The new systems will be used in ABP's Heerlen headquarters as well as at offices in Amsterdam and New York.
ABP licensed other Princeton products, such as FrontLine Suite to help achieve straight-through processing. PAM will be used as the central book of record in order to consolidate all investment activity in the three locations.
Global Investment Systems enters Polish market
HACKENSACK, N.J. -- Global Investment Systems of Hackensack is creating a presence in Poland.
ARKA-INVESCO, a Warsaw, Poland-based subsidiary of INVESCO, Atlanta, will be the initial installation site of GIS' IMPACT2 investment management and portfolio accounting system overseas.
The software provides such functions as: securities accounting for derivatives and complex fixed-income issues; asset allocation and portfolio modeling; and trade and order management with an on-screen trading blotter and automated custodian reconciliation. IMPACT2 is designed to run on a PC-LAN. ARKA-INVESCO along with Warsaw-based Trust Fund Co. PZU also became users of MFACT 5.0, GIS' mutual fund accounting system. PZU is owned and operated by PZU Life, the largest life assurance company in Poland. MFACT runs on Windows 95/NT.
Deutsche Bank offers cash management service
NEW YORK -- Deutsche Bank will introduce its db-direct global cash management platform to U.S. clients in the first quarter of next year. Through db-direct internet, clients will have real-time, Web access to the bank's cash management products and up-to-the-minute transaction information from anywhere in the world. Currently, U.S. clients use the remote server-based version of db-direct, which does not provide real time-data. The Internet platform has been introduced to 7,000 European clients, according to a bank spokes -woman.
Ibbotson Associates names Jack Kreger vice president
CHICAGO -- Jack Kreger has been named vice president of software product development of Ibbotson Associates Inc. in Chicago.
Mr. Kreger will lead development of Ibbotson's Windows- and Web-based investment planning and analysis software lines. The company expects to make an announcement soon about the firm's Web investment planning initiative, a spokeswoman said.
This is the first position that Mr. Kreger has held in the investment industry, but he has held similar software development positions at System Software Associates, Reuters, AT&T Computer Systems and Western Electric Co.
He replaces David Montgomery, who joined Morningstar Inc. in mid-July as the manager of the Internet infrastructure group.