|By Business Wire||
|August 12, 2014 07:00 PM EDT||
Charles River, an enterprise-wide, front- and middle-office investment management solution provider, today announced that BMO Global Asset Management has selected the Charles River Investment Management Solution (Charles River IMS) for its Hong Kong and London operations. The private cloud-based solution will be implemented at both BMO Global Asset Management (Asia) Limited and LGM Investments, which is one of BMO Global Asset Management’s boutique managers that specializes in Asian, Global Emerging and Frontier Markets equity investments.
BMO Global Asset Management Asia and LGM Investments will use Charles River IMS in a fully hosted and managed environment for portfolio management, trading, compliance, and post-trade processing across its equity, fixed income, and ETF operations. They will also leverage Charles River’s broker-neutral FIX network.
“Charles River IMS will enable us to further reduce operational risk and enhance workflow efficiencies,” said Amit Prakash, Managing Director, BMO Global Asset Management Asia. “Using a single hosted platform will help optimize our business processes, allowing us to focus on delivering the best possible client service.”
“Charles River’s private cloud solution helps investment management firms to simplify their operations, improve data accuracy, and reduce costs,” said Cameron Field, Managing Director APAC, Charles River Development. “Clients like BMO can rely on Charles River experts to manage the day-to-day application and infrastructure, ensuring timely access to new functionality and increased user satisfaction.”
About BMO Global Asset Management
BMO Global Asset Management is a global investment manager with more than $280 billion in assets under management, as of April 30, 2014. It is a part of BMO Financial Group, a fully diversified financial services organization with C$582 billion total assets and more than 45,500 employees as of April 30, 2014. www.bmo.com/gam
About LGM Investments
Established in 1991, LGM Investments is a specialist Asian, Global Emerging and Frontier Markets equity manager with US$2.8 billion in assets under management (as of April 30, 2014). Its team of investment professionals is based in offices in Hong Kong, London and Mumbai. In April 2011, LGM Investments became a wholly owned subsidiary within BMO Financial Group.
About Charles River
Charles River provides an end-to-end solution to automate front- and middle-office investment management functions across asset classes on a single platform. The solution offers a simplified operating model that includes enterprise software, data, application management/upgrades, hosting and FIX network to improve investment professional productivity, control risk and lower technology costs. Charles River serves more than 350 investment firms in 43 countries in the institutional asset and fund management, private wealth, alternative investments, insurance, banking and pension markets.
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