Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, announced today that Newton Investment Management (“Newton”) has selected Eagle Accounting to replace its legacy investment accounting platform.
Newton, a London-based global investment management subsidiary of BNY Mellon, provides investment products and services to a broad range of clients, including retail and institutional investors, with assets under management of £50.8bn ($67.1bn) as at 30 June 2018. Newton is Eagle’s longest standing UK-based client, having utilised Eagle’s enterprise data management capabilities since 2001. Earlier this year Newton completed its migration onto Eagle ACCESSSM, Eagle’s secure private cloud to support its business growth and improve agility.
Eagle Accounting was selected for its ability to meet Newton’s evolving business requirements and to perform specific accounting functions not supported by its legacy accounting technology, including enhanced derivatives coverage as well as providing a 360-degree view of positions and related underlying activity. The new platform will be deployed over Eagle ACCESSSM.
“We are excited about extending our use of Eagle to enhance our investment accounting capabilities,” said John Snow, Chief Technology Officer for Newton. “The Eagle team took the time to understand our complex business requirements and help us understand how we would use the platform on a day-to-day basis to support our needs. We look forward to using Eagle Accounting as we continue to evolve and grow our assets under management.”
“Newton’s selection of Eagle Accounting, following an extensive evaluation process, is testament to the quality of our investment accounting capabilities as well as that of our team,” said Mal Cullen, CEO for Eagle. “Key to our selection was our ability to demonstrate continued investment in the platform and a wider technology strategy that satisfied Newton’s key business requirement for a solution that will support their business needs now and well into the future.”