First Rate Successfully Converts Multiple Performance Systems into a High-performance Single Reporting Solution

Client Situation

A large regional bank discovered that their acquisition of several other financial institutions had resulted in inconsistent performance reporting, due to the acquired institutions’ use of a variety of different performance systems and classification schemes.

Client Challenges

The bank’s Chief Investment Officer found it difficult to manage the bank’s investment process with consistent performance schemes and to consistently report performance to all clients.

What the Client Wanted
  • A way to evaluate the investment process across the merged organization
  • Consistent performance schemes on a historical and ongoing basis
  • The ability to consistently report results to all clients
What First Rate Provided
    • Conversion of historical data from all acquired institutions to a single format
    • Integration of all available financials and monthly returns, preserving underlying data while creating consistent asset class schemes for historical and current data
    • Enhanced, controlled reporting solutions for the bank’s investment officers, assistants and marketing team
    • Functional, firm-wide access to a best-of-breed performance system
    • The ability to report performance of the firm’s products in a single scheme
The Impact
    • The CIO and investment officers can now easily evaluate and manage both historical and ongoing investment performance
    • First Rate’s integrated solution provided the investment officer with the tools to effectively manage their operations and build investment solutions to compete in the marketplace
    • Improved timing of performance delivery has resulted in more efficient resource allocation for the trust department
    • Investment and asset reports are consistent, accessible and easily prepared for the client presentations