WestLB Asset Management signs with Princeton Financial for ePam ASP service
30 July 2003 | 3356 views | 0
WestLB Asset Management US (WestAM), the Houston-based fixed-income investment management arm of German bank WestLB, has licensed ePam, the ASP version of Princeton Financial Systems' portfolio management and accounting package, Pam.
WestAM will use the vendor's ePam for Securities and ePam for Mutual Funds products to manage its more than $7 billion portfolio.
The firm will integrate Pam with its trading system to support client reporting. Under the deal Princeton Financial will house and manage WestAM's database.
Gregory Caudell, WestAM's head of US operations, says Princeton Financial's ePam ASP model provides a scalable platform for growth and the system's reporting flexibility will enable the firm to improve service levels.
Princeton Financial says by opting for the ASP version of Pam, WestAM is also getting a robust investment accounting system and managed network services, without the costs associated with licensing, installing and maintaining the application itself.
The system replaces SunGard's Shaw Data software.