Citi activates Vestmark's portfolio manufacturing modules (modeling, monitoring, rebalancing, and trading) in its asset manager solution
Wakefield, MA - September 23, 2008 - Vestmark, the leading innovator in the managed accounts platform solutions market, today announced that Citi's Securities and Fund Services division has enhanced its Investment Administration Services OpenSMA operations outsourcing platform by adding Vestmark's portfolio manufacturing modules. The primary drivers in activating the modules were Vestmark's unique capabilities to support fixed income portfolios, trading in ADRs, robust portfolio modeling and tax management, as well as the increasing customer demand for Vestmark technology.
"Vestmark's portfolio manufacturing and order management modules offer a robust, scalable and interactive solution to portfolio managers, traders, and operations personnel," said Andrew Clipper, Director of Product Management for Citi Investment Administration Services, "we are pleased to offer these additional features to our clients - fully integrated with our existing Vestmark modules for portfolio accounting, reconciliation, reporting, and business process management and workflow."
Vestmark's portfolio manufacturing capabilities include innovative model management and trade generation capabilities for different asset classes, including unique fixed income features, which allow managers to create characteristic-based model portfolios. Vestmark automatically incorporates client restrictions, account flows, tax management, and wash sale rules to efficiently implement investment decisions across tens of thousands of accounts. Vestmark's trade order management capabilities include trade block management, automated, rules-driven trade rotation, trade status monitoring and audit trail from trade creation to execution and allocation.
"We are very pleased to be working with Citi, a leader in the marketplace. Citi has gained significant traction in the operations outsourcing service provider market with a platform built with some of Vestmark's best technologies," said Rob Klapprodt, President of Vestmark Software.
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Headquartered in Wakefield, Mass. and founded in 2001, Vestmark is a leading provider of portfolio management solutions and outsourced services for financial institutions and their advisors, enabling them to efficiently manage customized client portfolios through an innovative technology platform. Supporting over $1.5 trillion in assets and 5.5 million accounts, Vestmark is a partner to some of the largest and most respected wealth management firms. For more information about Vestmark’s solutions, call (781) 224-3640 or visit www.vestmark.com.
Elizabeth Shim
Haven Tower
(424) 317-4861
eshim@haventower.com
