Eagle Investment Systems LLC (Eagle), a leading provider of financial services technology and a subsidiary of BNY Mellon, today announced that National Australia Bank’s Asset Servicing business (NAB) has deployed Eagle Performance, which will be used to service its 70+ asset management client’s investment performance measurement requirements.
Eagle has had a successful relationship with NAB using its data management technology for many years. By fully incorporating Eagle Performance into its investment management platform, NAB can service its various clients on one platform, thereby reducing risk and costs associated with managing multiple performance measurement systems as well as manual processes. NAB is using the full Eagle Performance offering and leveraging its various performance attribution styles such as the Brinson Fachler equity attribution model, which enables NAB to determine and describe the difference between the portfolio return and the benchmark return more accurately.
Christine Bartlett, Executive General Manager of NAB’s Asset Servicing business, noted this is another example of NAB’s and BNY Mellon’s alliance in action and explains why Eagle Performance will be a major benefit for customers.
“NAB has deployed Eagle Performance to better service our clients’ investment performance measurement requirements by focusing on superior technology, flexible delivery and enhanced reporting. We are delighted that through our alliance with BNY Mellon we are able to bring Eagle’s advanced technology to our customers and help them to transform their businesses.”
John Legrand, managing director, head of Asia-Pacific and EMEA at Eagle, noted that the company will be increasing its investment in Australia and New Zealand to meet the evolving needs of local institutions. He added Eagle’s performance measurement and data management capabilities could be ideal solutions for Australian investment managers who are increasingly concerned with risk management and operational efficiency.
“The business need for real-time data and the ability to create custom calculations continues to drive investment managers to implement new performance measurement solutions,” said Legrand. “Hindering these requirements are manual processes and older legacy systems that cannot offer the level of detail and the different views of performance calculations without adding unwanted complexity and risk.”
“Accordingly, many financial institutions turn to providers, like Eagle, to provide integrated solutions with the most up-to-date functionality and adherence to regulation to help manage their risk, streamline their operations and help service their clients,” added Legrand.