Thomson Reuters will provide investment management outsourcing support to MFC Global Investment Management, the asset management arm of Manulife Financial Corporation, a Canadian-based financial services group.
As part of the multi-million dollar deal, MFC Global has contracted Thomson Reuters PORTIA for its investment tool for its public assets representing more than $66 billion in assets, as of 31 December 2008. For MFC Global Investment Management this enables the introduction of a single book of record for the public asset component of its investment management business.
Thomson Reuters will provide MFC Global with a broad range of investment operational hosted software services including data management, portfolio recordkeeping, management reporting and disaster recovery support.
The outsourced services application will be deployed this year using a multi-phased approach. Upon completion, it will provide a cohesive global platform for MFC Globals operations in the U.S., Toronto, London and throughout Asia.
“We have a long-standing business relationship with Thomson Reuters,” says Jacqui Allard, vice president and chief administrative officer, MFC Global Investment Management.
“They understand our business and our people. We are confident in their ability to assist us with the conversion and to provide us with comprehensive service and support, which will enable us to further strengthen our business.”
We are pleased to be able to provide MFC Global with a single consolidated global platform as well as strong technical support and the assurance of a stable operational environment, says Christy Bremner, global managing director, PORTIA, Thomson Reuters.
L.D.