First Financial Bancorp
has tapped Bisys
to provide administrative support for the former's Legacy Funds, a spokesperson with Bisys told the MutualFundWire.com. These are three new mutual fund portfolios. The firms estimate that they have $650 million in assets. First Financial's operations are located throughout the Rust Belt, particularly Ohio.
First Financial has also selected Bisys for its regulatory services. These services will be utilized in order to establish First Financial Capital Advisors, an RIA unit. Bisys' educational services will be deployed to provide pre-licensing training for First Financial's reps.
"Recognizing that the mutual fund segment of the financial services industry is new territory for our organization, we enlisted BISYS, a proven industry leader, to facilitate our entry into this market and to support our ongoing growth goals. Bisys' expertise and sophisticated outsourcing solutions have been vital to our progress and have proactively supported the entire process, from establishing our investment advisor subsidiary and registering our mutual fund products, to assisting with the marketing and launch of the Legacy Funds," stated Mark Immelt, senior vice president with First Financial Bancorp and president of First Financial Capital Advisors.
The Legacy Fundsh were launched on May 13, 2002. They include core bond and equity funds as well as a U.S. government money market fund.
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