Hill Martin Asset Management Ltd (HML) in London has contracted with SunGard Investment Management Systems for its Web-enabled private banking solution, PAL. The vendor has also secured a deal with TD Bank Financial Group for its Invest One accounting solution.
The PAL service offers a front-to-back investment accounting and reporting service for UK asset managers of private clients. HML is planning to use PAL to enhance its discretionary investment management service to private clients, trusts, companies, and pension funds.
According to Brian Thorn, finance director of HML, a major factor in the bank's selection of PAL was SunGard's commitment to centralised service based systems, from which core system developments readily benefit all users.
The SunGard operating unit has also won a contract with Canadian-based, TD Bank Financial Group for its Invest One investment accounting solution to process the group's institutional portfolios and mutual funds for both internal and third party funds.
Jerry Beniuk, vice president and managing director, wealth management, TD Bank Financial Group, says: "Invest One leverages advanced technology with a highly flexible Web-deployed architecture that will allow us to increase operational efficiency, enhance client delivery, and assist in creating a paperless workflow environment for our C$80 billion assets processed in these portfolios."
TD Bank becomes the fourth Canadian client for SunGard's Invest One software.