BURLINGTON, February 17, 2004 — Charles River Development today announced that U.S. Bancorp Asset Management selected the Charles River Investment Management System (Charles River IMS) to support equity, fixed income, and private asset management operations. U.S. Bancorp Asset Management, a $127 billion asset manager (including the First American Funds) as of December 31, 2003, will implement the complete Charles River IMS software suite which includes Charles River Manager for portfolio management, Charles River Trader for order management and trading, and Charles River Compliance for real-time and portfolio-level compliance monitoring.
Charles River’s integrated software suite replaces multiple systems from Linedata and Thomson Financial as well as a proprietary fixed income application. U.S. Bancorp Asset Management plans to roll out Charles River IMS to approximately 70 employees by June 2004.
"We are thrilled to partner with a firm that shares similar values and offers an industry leading trade order management and compliance solution. Charles River is an essential addition to U.S. Bancorp Asset Management’s infrastructure and will contribute to our ability to achieve straight-through-processing," said Mark Jordahl, Chief Investment Officer, U.S. Bancorp Asset Management.