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Thomson Reuters, today announced that it will provide investment management outsourcing support to MFC Global Investment Management, the asset management arm of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide.
As part of the multi-million dollar deal, MFC Global has contracted Thomson Reuters PORTIA for its investment recordkeeping solution for its public assets representing more than $66 billion in assets, as of December 31, 2008. For MFC Global Investment Management this enables the introduction of a single book of record for the public asset component of its investment management business.
Thomson Reuters will provide MFC Global with a broad range of investment operational hosted software services including data management, portfolio recordkeeping, management reporting and disaster recovery support.
The Boston office of MFC Global (formerly John Hancock Advisors before Manulife acquired John Hancock Financial Services in 2004) has used Thomson Reuters system for nearly 10 years. The outsourced services solution will be deployed this year using a multi-phased approach. Upon completion, it will provide a cohesive global platform for MFC Global’s operations in the U.S., Toronto, London and throughout Asia.
"We have a long-standing business relationship with Thomson Reuters. They understand our business and our people. We are confident in their ability to assist us with the conversion and to provide us with comprehensive service and support, which will enable us to further strengthen our business," said Jacqui Allard, Vice President and Chief Administrative Officer at MFC Global Investment Management.
Christy Bremner, Global Managing Director of PORTIA, Thomson Reuters, said: “We are pleased to be able to provide MFC Global with a single consolidated global platform as well as strong technical support and the assurance of a stable operational environment.”
Thomson Reuters offers maximum flexibility and configurability via a function by function menu of outsourced options combining Facilities Management, Data Management and Operational Management. In addition, PORTIA also supplements its product offerings with global professional services consulting expertise and provides customer support to its global client base 24X7.
