BISYS, a global provider of business process outsourcing solutions for the financial services sector, announced today that Boston-based Eaton Vance Management has expanded its outsourcing relationship with BISYS. The multi-year agreement contracts BISYS to support Eaton Vance’s Ireland-domiciled Emerald Funds with an expanded array of services. BISYS will now provide the fund family with comprehensive fund administration and accounting services, in addition to the transfer agency services previously provided.
Supporting the offshore fund family expands BISYS’ and Eaton Vance’s successful relationship, which was established in 1999, and further strengthens BISYS’ growing European operations and presence.
Vincenzo Falbo, international managing director for Eaton Vance, said his firm began reviewing its service providers and their respective product lines early last year. “We realized we needed a strategic alliance with a firm capable of fully understanding our business and growth objectives, and willing and able to meet our specific requirements. BISYS’ unique consultative approach distinguished its business strategy and its outsourcing solutions as one that best suits our needs,” according to Mr. Falbo.
Bill Tomko, president of BISYS’ Investment Service group, reported, “Eaton Vance is one of the most widely respected firms in the investment industry, and we have enjoyed working with this prestigious firm during the last three years. We are extremely pleased that our efforts have garnered a rewarding level of confidence in our services and positioned BISYS as more than just another service provider. We look forward to continuing to support Eaton Vance and the growth of its offshore funds with our technology-based solutions.”
The recently restructured and re-branded Emerald Funds are classified as UCITS (Undertaking for Collective Investment in Transferable Securities), which allows them to be sold throughout the European Union.