Thomson Reuters has inked a multi-million dollar investment management outsourcing support deal with Canada's Manulife Financial Corporation (MFC).
Manulife's asset management arm has contracted with Thomson Reuters Portia for investment record keeping for its public assets. The vendor says this will enable the introduction of a single book of record for the public asset component of MFC Global's investment management business.
Under the deal, Thomson Reuters will provide MFC's asset management arm with a range of investment operational hosted software services including data management, portfolio recordkeeping, management reporting and disaster recovery support.
The outsourced services offering will be deployed this year using a multi-phased approach. The vendor says that, once completed it will provide a cohesive platform for MFC Global's operations in the US, Toronto, London and throughout Asia.
Christy Bremner, global managing director, Portia, Thomson Reuters, says: "We are pleased to be able to provide MFC Global with a single consolidated global platform as well as strong technical support and the assurance of a stable operational environment."