ISYS has entered the separately managed accounts (SMA) market with the creation of a new business unit, its Separately Managed Account Services Group
, which aims to provide processing solutions for SMA investment managers and distributors.
BISYS Investment Services
unit overseas the new group, which is run by Senior Vice President Kevin M. Keefe
. He is charged with directing the development, delivery and ongoing servicing functions of BISYS' SMA outsourcing solution.
The new SMA service is slated for launch in six to eight weeks, with the signing of a number of key partnerships, said Keefe. BISYS is currently holding discussions with a number of best-in-breed service and technology providers, including SMA managers, platform providers, software vendors and imaging solutions providers.
These relationships are to provide BISYS with advanced SMA functionality, such as overlay portfolio management capabilities and related imaging and workflow technologies.
"We are confident that growth in the SMA market will continue to be strong," said Keefe. "Our projections, combined with our understanding of asset manager needs, clearly justified our decision to augment BISYS' operational expertise and processing functionality with sophisticated SMA capabilities."
BISYS' SMA service offering will include account administration, portfolio accounting and administration, settlement services, billing solutions, and comprehensive reporting functionality.
"Our development of a comprehensive solution for the separately managed accounts arena is a natural extension of our existing processing capabilities, and we believe our full range of back-office and distribution solutions will be competitively distinct in the SMA marketplace," said Bill Tomko
, president of BISYS Investment Services.
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