Source: Bank of New York
Pershing Limited, a member of BNY Securities Group and a subsidiary of The Bank of New York, has been selected by Rensburg Investment Management Limited to support its private client business.
Under the agreement, which is an extension of the relationship the firm established with Rensburg in 1993, Pershing Limited will provide a complete front-to-back solution, including an integrated portfolio management tool and a full range of trading, clearing and settlement services.
Pershing Limited has tailored its portfolio management solution to meet Rensburg's increasingly sophisticated needs, as well as those of other private wealth managers, through the integration of Business Architect's eXimius portfolio management tool, which provides comprehensive benchmarking, attribution analysis and customer relationship management functionality.
Robert Allen, operations director of Rensburg plc, said, "Rensburg Investment Management is dedicated to gaining a deep understanding of each client's financial position and objectives in order to develop an investment strategy that corresponds to their individual needs. Our continuing relationship with Pershing helps us focus resources on our core business and gain tighter control of middle- and back-office costs, while ensuring we have the flexibility and technology required to take our wealth management business forward in the future."
Charles van der Merwe, co-chief executive officer of Pershing Limited, said, "Through this expansion of our relationship, Rensburg Investment Management will gain operational efficiency and flexibility from our integrated portfolio management solution. As we expand our private wealth management offering in 2005, we will continue to work with leading wealth managers across Europe to implement innovative solutions tailored to the specific needs of this market."