Swiss Re Investors has gone live with DST International's (DSTi) back office asset management and accounting software HiPortfolio across offices in the US and Canada, completing its global roll out of the product.
Swiss Re is now using the system at its European sites and offices in Bermuda, Johannesburg, Hong Kong and Melbourne and has integrated all its accounting and back office systems onto one database. As a consequence, any new developments and additions to Swiss Re's systems will be available to all of its global investment centres.
DSti says the OpenMessenger module of HiPortfolio is being used for electronic trade confirmations, settlements (ETS) and reconciliation with banks and custodians. In order to comply with North American legal reporting requirements, DSTi developed four new modules for the product to cover Canadian Tax Reporting requirements and Schedule D US regulatory reporting regulations.
Jorge Riera, Swiss Re's head of information systems, says the product is capable of handling the firm's range of assets under management, local accounting principles and the STP required in each investment centre.
London-based DSTi says Swiss Re is also helping it launch HiPortfolio version 3 in the US.