Lazard Capital Markets' Prime Services reporting platform was ready to accept new clients after applying Eagle's accelerated deployment methodology, which follows proven practices for implementing Eagle solutions.

Based in New York with $9 billion in client assets under custody, Lazard Capital Markets has a long history of providing clearing services to institutions, corporations, and individuals. The organization has launched a new business focused on hedge fund prime brokerage and has licensed the Eagle suite to help service its hedge fund client base. As an independent, self clearing brokerage firm, Lazard Capital Markets provides a holistic coverage model with traditional prime brokerage services and capital markets expertise to assist the investment community to both manage and expand their businesses. Lazard Capital Markets' Prime Services offers a front-to-back solution for hedge fund managers with a focus on premium technology and client service.

"By aligning with Eagle on this initiative, we can provide clients with flexible and institutional quality portfolio reporting tools and have the ability to scale our offering as our business and the industry evolve," said David Wertentheil, Lazard Capital Markets' managing director and head of prime services. "This provides our clients the best of both worlds-progressive technology with institutional support coupled with a marquee capital markets platform."

The proven implementation methodology provided Lazard Capital Markets with more than half of its required reports out of the box, with others created by minor modifications to existing reports. Lazard Capital Markets is the first client to leverage Eagle's Data Integration Services initiative, a service that helps clients achieve reduced risk and shortened implementation timeframes by including data integration to support deployments of its accounting and performance solutions and providing ongoing updates and support. The refference data interfaces required by Lazard Capital Markets were delivered through Eagle ACCESS, providing both a lower cost of implementation and additional support and services for these interfaces over time.

"Lazard Capital Markets selected Eagle because of its vision and drive to lead the market in the alternative investments technology space," said John Lehner, Eagle's president and chief executive officer. "The Eagle suite provides Lazard Capital Markets with an integrated suite that directly addresses the operational demands of its hedge fund prime brokerage business, a platform to support its growth strategy, and a cost-effective delivery approach through hosting."

Headstrong, a leading global IT consulting and outsourcing company with a specialized focus on the capital markets and securities space, will be providing full business process outsourcing services for Lazard Capital Markets. Headstrong is managing the accounting, reconciliation, performance, and end reporting functions, working closely with Lazard Capital Markets' client service group. With a full range of investment operations services, Headstrong maintains extensive experience servicing back office clients on the Eagle platform.