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US Bancorp licenses Eagle mutual fund accounting system

23 October 2006  |  1585 views  |  0 Source: Eagle Investment Systems

Eagle Investment Systems LLC, a Mellon Financial Company, today announced that U.S. Bancorp Fund Services, LLC (USBFS), a subsidiary of U.S. Bancorp, the 6th largest financial holding company in the United States, has selected Eagle STAR to support its mutual fund accounting and reporting needs.

Eagle STAR is a Web-based investment accounting system that supports multiple lines of business including mutual funds, insurance, institutional asset management, hedge funds and brokerage/wealth management on a single platform.

USBFS decided to extend its relationship with Eagle, which began in 2005, after successfully implementing Eagle PACE, a data hub and portfolio management solution, and Eagle Portal, an interactive information delivery platform for the web.

By coupling Eagle STAR with Eagle PACE, USBFS has the power of world-class mutual fund accounting, seamlessly bound with best of breed data management and reporting.

"We were impressed with the quality and speed associated with our Eagle PACE implementation and the exceptional ongoing client service we receive. In addition, Eagle remains the leader in providing advanced solutions, so when their mutual fund accounting capabilities became available, they were the logical choice for expansion," said Joe Redwine, president of USBFS.

"Eagle is the only firm offering a fully integrated accounting and data warehouse system on new technology, enabling us to further enhance our operational efficiencies."

"USBFS is a leader in adopting newer technologies and we are thrilled they have decided to extend their relationship with Eagle," said David Palten, president and CEO of Eagle. "We are seeing an increase in the market's appetite for replacing legacy accounting systems with newer technologies, such as ours, that leverage a data-centric model. USBFS is one of several firms we are speaking with about our solutions."

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