SunGard's AddVantage Selected By The PrivateBank For Consolidated Asset Management, Trust Accounting And Custody

The PrivateWealth Group at The PrivateBank has implemented SunGard's AddVantage asset management and trust accounting technology. The PrivateWealth Group will use SunGard's AddVantage to gain enhanced client and management reporting and investment management and assessment functionality. The Web based technology

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The PrivateWealth Group at The PrivateBank has implemented SunGard’s AddVantage asset management and trust accounting technology. The PrivateWealth Group will use SunGard’s AddVantage to gain enhanced client and management reporting and investment management and assessment functionality. The Web-based technology will also help the PrivateWealth Group support business growth, helping it attract, service and grow client relationships. AddVantage provides The PrivateWealth Group with a single consolidated trust platform with real-time custody processing.

The PrivateWealth Group converted two of its bank operations onto AddVantage to help gain cost and processing efficiencies, while simultaneously converting to a new custodian using AddVantage’s integrated real-time custody interface. In addition, AddVantage integrates with the SunGard Transaction Network (STN) trading connectivity services for equities and mutual funds to provide The PrivateWealth Group with an efficient straight-through processing environment.

“SunGard’s AddVantage provides us with an operationally efficient solution with a simple to use Web-based interface and electronic forms,” says Susan Vonder Heide, managing director and senior trust operations officer with The PrivateWealth Group. “In addition to robust and flexible reporting, SunGard’s AddVantage provides straight-through processing with reduced trade touch points and real-time capabilities, as well as flexible and efficient data handling that saves us countless hours on downloading data and creating custom reports.”

“In today’s challenging economic environment, the need to gain cost efficiencies, streamline processes and provide robust reporting is more crucial than ever,” says Kevin Rafferty, president of SunGard’s wealth management business. “AddVantage provides functionality, integration and flexibility to help wealth management organizations reduce costs and manual effort, while helping to enhance service and meet client expectations.”

D.C.

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