Princeton Financial Systems, a wholly owned subsidiary of State Street Corporation, has completed the closing of its acquisition of Barton and Bolton Associates.
“With the acquisition of Barton and Bolton, Princeton Financial meets a strategic goal of expanding into a new product area which we believe has great growth potential,” says Jim Russo, CEO and president of Princeton. “Barton and Bolton’s expertise and Unit Value Trade System brings us instant credibility in servicing the variable annuity market. In addition, as a result of the acquisition, we further extend our already strong presence in the global insurance marketplace.”
The Unit Value Trade System is a functionality rich application which allows fully automated pricing and trading, product and fund level expense charges, SEC performance reporting, and accounting and corrections processing.
Barton and Bolton was founded in 1993 and has since been providing software solutions and consulting services to the variable annuity industry across the U.S. and Canada.