Northern Trust Extends SunGard Tech Partnership

Northern Trust has extended its asset management solutions by choosing SunGard’s Asset Arena Control Centre to help boost operational efficiency and reduce back-office risk.
By Editorial
Northern Trust has extended its asset management solutions by choosing SunGard’s Asset Arena Control Centre to help boost operational efficiency and reduce back-office risk.

The control center is the latest solution provided by SunGard as the trust bank seeks to shore up its fund and investor accounting activities and to improve transparency in the wake of increasing regulatory requirements.

“It has been crucial to us to ensure we have the right systems in place that will help enhance our portfolio processes. By working with SunGard, we will look to achieve a smoother end-of day NAV (Net Asset Value) creation process, reduce the potential for risk and meet regulatory requirements which will ultimately help us generate significant cost savings,” says Peter Cherecwich, head of global fund services, Northern Trust.

“The firms that are best positioned for success are those that employ comprehensive solutions with a centralized view of fund accounting and investor accounting activities,” explains Doug Morgan, president of institutional asset management for SunGard’s Asset Management business.

The control center will help the firm benefit from operational efficiency by converting complex work processes into electronic checklists and easy-to-read dashboards to increase automation and improve oversight.

As Northern Trust looks to improve the efficiency of its back-office operations, large asset managers want greater support for their day-to-day functions in order to better manage their growing cross border challengers in the wake of increasing consolidation, according to Denise Valentine, senior analyst at Aite Group.

“This gives fund administrators the opportunity to increase their own scale and take on a greater range of services, as a one-stop shop for fund administration,” Valentine adds.

“By providing automation and transparency across areas such as client reporting, financial statement production and even middle-office and risk management responsibilities, a fund administrator is better able to compete in an operationally demanding yet cost-conscious market.”

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