Kinexus Acquires GreenTrak.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & NEW ROCHELLE New Rochelle (rōshĕl`), city (1990 pop. 67,625), Westchester co., SE N.Y., on Long Island Sound; settled by Huguenots 1688, inc. as a village 1858, as a city 1899. , New York--(BUSINESS WIRE)--April 25, 2001 Combination Significantly Enhances The Delivery Of Large-Scale large-scale adj. 1. Large in scope or extent. 2. Drawn or made large to show detail. large-scale Adjective 1. wide-ranging or extensive 2. Cross-Institutional Account Consolidation And Wealth Information Management To Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Institutions And Their High Net-Worth Clients Kinexus Corporation, the leading provider of premium wealth information management services, today announced that it has acquired GreenTrak Inc., the leading provider of consolidated investment tracking reporting to the financial industry. Terms of the transaction were not disclosed. The acquisition will significantly enhance Kinexus' reporting options for financial services institutions and their affluent to high net-worth clients, increase institutional relationships and connectivity within the financial services industry and expand Kinexus' sales and marketing force. David Green, former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of GreenTrak, will serve as President, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. of Kinexus. Combined client base includes J.P. Morgan Morgan, American family of financiers and philanthropists. Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. Private Bank, Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. Wealth Management Services, Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , SunAmerica Asset Management Corp., the Family Office of First Union's Private Capital Management, Wachovia, OFFITBANK and many top-tier accounting firms and family office advisors. "GreenTrak has a significant client base, strong client teams and has successfully consolidated and reported on thousands of accounts for over 7 years," said Harry Totonis, CEO of Kinexus. "Through this acquisition and the addition of David Green and his executive team, Kinexus will enhance its ability to meet the evolving needs of wealthy individuals in a global investment marketplace. Clients will also benefit from the addition of The GreenTrak(TM) Report, which tracks the total assets of high net-worth individuals and is perceived as an industry benchmark." Added Totonis, "The integration of GreenTrak's knowledge and success in this market with Kinexus' highly scalable technology allows us to offer financial institutions and advisors the capabilities to deliver superior value to their clients - helping them become the primary financial advisor." Founded in 1994 by B. Douglas Morriss, Kinexus recently completed a $49 million financing from J.P. Morgan Chase and Capital Z Partners, bringing the total equity capital behind the company to more than $125 million. Kinexus already has over 30,000 end customers with over 225,000 accounts from client institutions. Kinexus' service offering is highly scalable and is only at a fraction of its potential capacity. "We are extremely excited to be combining forces with Kinexus," said David A. Green, CEO of GreenTrak. "This is a complementary transaction that solidifies Kinexus' position as the premier wealth information management company for the affluent to high net-worth market." Added Green, "For the first time millions of wealthy individuals and their advisors can see their full financial picture online -- across asset classes, institutions and borders. Our wealth information management services mean better decision-making decision-making, n the process of coming to a conclusion or making a judgment. decision-making, evidence-based, n a type of informal decision-making that combines clinical expertise, patient concerns, and evidence gathered from and better control based on the first truly complete picture of net worth - a competitive advantage for early adaptors." About Kinexus Founded in 1994 as The Witan witan or witenagemot Council of the Anglo-Saxon kings in medieval England. Usually attended by high-ranking nobles and bishops, the witan was expected to advise the king on all matters on which he chose to ask its opinion. Group, Kinexus is the premier wealth information management services company that enables financial institutions to provide wealthy clients with a complete, consolidated picture of their net worth through a variety of new media channels. Kinexus' technology platform also links client financial data with a range of value-added decision-support and reporting capabilities, enabling clients to analyze and act on their information as never before, and giving our financial institution partners the very best tools to service premium customers. For more information please go to www.kinexus.com. About GreenTrak Founded in 1993, GreenTrak, Inc. is the leading independent provider of consolidated investment reporting to the financial industry and high net-worth individuals. Its primary business is providing The GreenTrak(TM) Report to high net-worth individuals through its partner institutions. |
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