Yves Choueifaty Opalesque Industry Update - SunGard has acquired the Pilot solution from TOBAM, a Paris, France-based asset management firm. The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGardís financial results.
The Pilot solution, built and used by TOBAM as its decision support solution for the fundís principals, is complementary to SunGardís Asset Arena solution suite, which supports the core functions of the asset management industry including investment management, investment operations and investor servicing.
Yves Choueifaty, president of TOBAM, said, ďRegulators and investors continue to demand greater transparency and robust operations from asset management firms. As a result, small-to-mid-sized asset managers are further faced with cost pressures and competition from larger firms. We developed the Pilot solution to help us service high demand clients with increased transparency and reliability. We are proud that these features have been recognized by SunGard.Ē
Martin Boyd, president of SunGardís asset management business, said, ďSunGard has
chosen to acquire Pilot, a comprehensive solution developed and used by portfolio
managers, from which to build our solutions for smaller asset managers. We will
leverage our innovative technology infrastructure and development framework, rich
solutions portfolio and quality assurance testing to further evolve Pilot for this
customer base.Ē Corporate website:: Source