Press Releases
Wegelin Fondsleitung Goes Live with SunGard’s Asset Arena Investment Accounting
May 26, 2010 — Frankfurt
Wegelin Fondsleitung AG has completed its implementation of Asset Arena Investment Accounting, SunGard’s global investment accounting and reporting solution. Wegelin is the fund accounting arm of Wegelin & Co., Switzerland’s oldest private bank, which specializes in customized wealth management and retirement planning solutions and manages client assets of more than CHF 26 billion.
Wegelin Fondsleitung AG required a solution that could easily integrate with its existing SunGard core banking and portfolio management platform, Ambit Apsys. Covering a broad range of financial instruments, Asset Arena helps Wegelin Fondsleitung AG increase the automation of its fund accounting processes, thereby enhancing the firm’s straight-through processing capabilities. Asset Arena also helps address Wegelin’s local compliance, legal and tax requirements, as well as provide specialized customer reporting.
Jelmer van der Meulen, managing director of Wegelin Fondsleitung AG, said, “SunGard was able to meet our aggressive implementation schedule, allowing us to begin the year fully functional on its robust platform. Asset Arena is helping us to increase our operational efficiency, and through comprehensive reporting capabilities, provide a greater degree of transparency to our clients. We are confident that we have found the most reliable partner whose breadth and depth of proven solutions will provide us with the flexibility and scalability needed to continue to grow our business.”
Asset Arena is integrated with SunGard’s Ambit Apsys, a comprehensive banking solution that is used by Wegelin & Co. for its private banking activity and custody for fund management. The integration between the two solutions provides a seamless transfer of all trades and securities details from the banking side to the fund accounting side. This level of automation gives Wegelin & Co. the ability to achieve faster, more accurate transactions, and process high volumes without duplicating work.
Doug Morgan, president of SunGard’s institutional asset management business, said, “We are pleased that Wegelin & Co. has expanded its relationship with SunGard. With its impressive corporate legacy, Wegelin & Co. clearly understands the importance of evolving to meet the industry’s changing demands. Asset Arena’s global capabilities, as well as its adaptability to local markets, will help Wegelin Fondsleitung AG better serve its clients, take advantage of growth opportunities and maintain its competitive position.”
About Wegelin & Co. Founded in 1741, Wegelin & Co. is Switzerland’s oldest bank. As a limited partnership, Wegelin & Co. is one of the few remaining independent Swiss private banks whose partners have unlimited liability. Wegelin & Co. employs 700 staff in 12 locations in Switzerland and currently manages client assets of over CHF 26 billion. Wegelin & Co. specialises in asset management for private and institutional clients. Further information at
www.wegelin.ch About Asset Arena Asset Arena is SunGard’s global suite of products and services for asset managers, institutional investors, and traditional and alternative fund administrators. Asset Arena supports the core functions of the asset management industry including investment management, investment operations and investor servicing. By leveraging technologies such as business process management and software-as-a-service, Asset Arena helps investment firms manage complexity, increase efficiency, and reduce costs and operational risk, while maintaining agility to respond to changing business and regulatory requirements. For more information visit
www.sungard.com/assetarena About SunGard SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company.
Trademark Information: SunGard, the SunGard logo, Asset Arena and Ambit Apsys are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.