LONDON, August 21, 2001 - SunGard Investment Management Systems, an operating group of SunGard (NYSE: SDS), today announced that Close Private Asset Management Ltd (CPAM) has signed a long-term contract for PAL, SunGard's Web-enabled private client investment management service. PAL offers comprehensive private client administration services to stockbrokers and fund managers in the UK.
CPAM provides a discretionary investment service to a wide range of medium to high net worth individuals. Under the license extension, CPAM will continue to use PAL to complement and automate its bespoke discretionary investment service. PAL can provide CPAM clients with a high level of quality reporting via the Web to complement the level of service and investment returns that they already enjoy. Christopher Boon, managing director of CPAM comments, "The PAL system has the stability and reliability essential for supporting our business. We look forward to the ongoing development of PAL and SunGard Investment Management Systems in the UK".
John Munro, general manager of SIS UK, adds, "PAL and CPAM have formed a very successful and complementary long term working relationship, working closely together to meet the increasing new challenges set to achieve straight-through processing in a business that is constantly evolving."
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