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Maxim Group Selects SunGard for Increased Operational Efficiency of its Prime Brokerage and Wealth Management Portfolio Accounting

Maxim Group, a full service investment banking and brokerage firm providing services to hedge funds, investment advisors, family offices and high net worth individuals has selected SunGard’s VPM. Now live, the solution helps Maxim Group better service its clients by providing advanced portfolio accounting and reporting capabilities, which helps promote smarter operations within its investment management and operations functions.

Maxim Group’s integration of VPM and its clearing firms’ data provides a scalable solution with minimal reconciliation overhead. VPM physically stores all of Maxim Group’s investment activity to help enable the firm to have more accurate information, transparency into data and holdings, and foresight to proactively adapt trading strategies.

“As our investor requirements continue to call for increased transparency and reporting for hedge fund portfolio accounting, our need grew for a powerful, user-friendly product with a highly scalable infrastructure. We chose SunGard based on the strength of its name in the industry and recognition amongst top tier hedge funds. Additionally, VPM’s comprehensive product offering connecting the front to back office operations as well as its scalability and lower total cost of ownership made SunGard our first choice of providers.”Seth Michaels, managing director, head of prime brokerage services, Maxim Group.

“This implementation is significant and is a testament to the prime brokerage industry’s need for transparency and automation. Streamlining Maxim Group’s back-office accounting and investor reporting with a scalable platform helps reduce operational risk and increase business efficiency.” - Scott Alintoff, chief operating officer, VPM, SunGard’s Asset Management Business.

The implementation of SunGard’s VPM was completed in three months. Maxim Group has been a SunGard customer for 11 years and also currently uses SunGard’s Global Network and SunGard’s Valdi pre-trade compliance system.