Singapore
15 February 2017
Reporter: Stephanie Palmer
Eagle wins new business in Singapore
Singapore-based insurer NTUC Income has selected Eagle Investment Systems to provide data management, investment accounting and performance measurement systems.

The Eagle Investment Systems cloud-based system will replace legacy technology, allowing Income to accommodate new asset classes as it diversifies its business.

It will also provide an investment book of record, to help with investment decision-making.

Income provides insurance products to 2 million customers and, as of the end of 2015, had $32.4 billion Singapore dollars ($22.8 billion) in assets under management.

Andrew Clay, investment COO at Income, said: “We were looking into a technology platform that will support us well into the future, especially one that provides us the flexibility to accommodate new asset classes as we diversify our business.”

John Legrand, managing director for Eagle in Europe, the Middle East and Africa, and the Asia Pacific (APAC) region, said: “We are receiving a lot of interest from insurance companies looking to introduce new portfolio management systems to adequately support their evolving business needs.”

“Singapore has long been a key target market for us and we have experienced significant growth since we first opened our office here in 2009. We are therefore delighted to welcome NTUC Income to our growing client base in APAC.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Mutual insurer simplifies custody with single provider
23 March 2017 | Paris | Reporter: Mark Dugdale
Thélem Assurances awarded the mandate to CACEIS after deciding to simplify its custodian relationships, according to CFO Benoit Jullien
SEC to move US to T+2
23 March 2017 | Washington DC | Reporter: Drew Nicol
Members of the SEC’s industry steering committee, including DTCC and SIFMA, were quick to praise the commission on the amendment
Amundi clears credit default swaps through CDSClear
23 March 2017 | London | Reporter: Mark Dugdale
The asset manager accessed CDSClear via its clearing broker BNP Paribas, taking the service to 13 active members
MiFID II challenges abound
22 March 2017 | Luxembourg | Reporter: Stephanie Palmer
Data requirements and target market rules under MiFID II could pose challenges for asset managers and distributors, heard attendees of the ALFI European Asset Management Conference
ESG key for millennial investors
22 March 2017 | Luxembourg | Reporter: Stephanie Palmer
Millennial investors find environmental, social and governance factors to be important, but their return expectations are unrealistic
UK pension funds embrace alternatives
22 March 2017 | London | Reporter: Drew Nicol
UK public sector pension funds are jostling to expand their alternatives exposure as a way to diversify their portfolios
Northern Trust retains Australian pension fund custody mandate
22 March 2017 | Melbourne | Reporter: Drew Nicol
Northern Trust has received a renewed endorsement from the Australian government employee and Australian Defence Force pension fund