Oregon State Treasury Goes Live with Eagle PACE; Fast Implementation Has Oregon on Track for Data Management and Reporting Needs.
BOSTON--(BUSINESS WIRE)--Feb. 18, 2003
Eagle Investment Systems Corp. today announced that the Oregon State Treasury has deployed Eagle PACE(TM), Eagle's portfolio management solution, to help manage its $44 billion in assets.
Eagle PACE, which went live in early January, allows Oregon State Treasury to capture investment accounting data provided by its custodian, enhancing its reporting capabilities without the need to duplicate accounting. By using Eagle's software, Oregon State Treasury has automated reconciliation to its custodian and can facilitate the generation and distribution of day-to-day reporting, as well as provide historical investment information to both its internal and external customers. Oregon StateTreasury manages state funds, local government excess cash and retirement funds.
In support of its investment accounting redesign project, the Oregon State Treasury chose Eagle PACE(TM), a Web-based data hub and portfolio management system; Eagle Portal, a solution for simple retrieval of real-time investment data through Web and wireless devices; and Eagle Trade Hub, a straight-through link between front-office trading systems and custodians and clearing houses. InvestTech Systems Consulting managed the system implementation project. The implementation team included resources from Oregon State Treasury, Eagle Professional Services, and InvestTech.
"We chose Eagle because of its successful track record working with public sector clients, and its reputation for completing implementations on time," said Sally Furze, controller, Oregon State Treasury. "Eagle certainly upheld their end of the agreement, and we are pleased to be using Eagle PACE."
"Oregon State Treasury is forward thinking in terms of technology, and Eagle's solutions position it to meet its objectives," said Jack Riley, CEO of Eagle Investment Systems. "By using Eagle PACE, Oregon Treasury can take control of its investment data, easily link to external data sources, and run customized reports specific to their needs."
About Eagle Investment Systems
Eagle, a Mellon Financial Company(SM), is a global provider of financial services technology. Eagle's Web-based systems automate internal systems to support STP requirements of money managers, mutual funds, hedge funds, brokers, plan sponsors, banks, corporate trusts, and insurance companies. Eagle provides solutions for portfolio management, investment accounting, performance measurement, attribution, AIMR/GIPS compliance, reporting, messaging, reference data management, and outsourcing. To learn more about Eagle's solutions, contact us at 1.800.810.3819 or firstname.lastname@example.org or visit www.eagleinvsys.com.
About Mellon Financial Corporation
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and affluent individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources services and treasury services. Mellon has approximately $2.9 trillion in assets under management, administration or custody, including $581 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. News and other information about Mellon is available at www.mellon.com.
About Oregon State Treasury
The Oregon State Treasury is led by the State Treasurer, Randall Edwards, who is a constitutional officer and statewide elected official. The State Treasurer serves as the chief financial officer for the state and is responsible for the prudent financial management of state money. The Treasurer serves a four-year term and, if re-elected, may hold the position for two terms.
The Oregon State Treasury has a wide range of financial responsibilities, including managing the state's pension fund, issuing all state debt, and serving as the central bank for state agencies. The Treasury is managed like a business, striving to save the taxpayer's money by earning the highest risk-adjusted return on funds invested. Additional information about Oregon State Treasury can be found at www.ost.state.or.us.