FactSet signs WestLB

Source: FactSet Research Systems

FactSet Research Systems Inc. has been appointed by WestLB AG to provide a global solution for integrated data and applications to support their global research process.

WestLB is one of the largest universal banks among the German Landesbanken and is the central institution for the savings banks in North Rhine-Westphalia and Brandenburg. WestLB, a global company with a strong European focus, is headquartered in Düsseldorf.

FactSet JCF Estimates will be WestLB's primary source for Consensus and Detailed Broker Estimates through the JCF 5.0 application. In addition, FactSet's Economic data and applications will allow WestLB to further rationalise the number of research platforms in the sell-side research area.

Scott Beyer, Director of International Operations at FactSet, said "This important relationship with WestLB leverages core strengths of each partner. We focus on building the industry’s best consensus estimate data along with analysis and publishing tools. This allows the talented analyst team at WestLB to spend more time creating the high value research they are well known for. We are delighted that WestLB has selected FactSet as their primary source for data and research tools and look forward to a long, prosperous relationship."

"FactSet's acquisition of the JCF Group enables our analysts in Düsseldorf and London to access high quality market data, as well as our own proprietary data, on a single platform through JCF Partners and JCF 5.0," said Soren Gjelstrup, Head of European Equity Research at WestLB, "In particular, FactSet JCF Partners is a solution made by research professionals for research professionals who understand our need to streamline the production process. FactSet's ability to manage data will significantly reduce our operating risk, increase efficiency and productivity across our research teams, allowing us to focus on the continuously changing demands of the market."

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