The New York-based outsourcing firm said it has launched a business arm that will cater exclusively to separate account managers and distributors. The companys SMA division will provide an array of services including account administration, portfolio accounting and administration, settlement services and billing.
Bisys said it is in the process of developing strategic alliances with technology and service providers that will serve as the cornerstone for its business. These relationships will provide Bisys with advanced SMA functionality such as overlay portfolio management and related imaging and workflow technologies.
"We expect the resulting offering will address SMA product and service requirements in a meaningful way, and will provide managers and sponsors with a more effective alternative for resolving the operational challenges inherent in the SMA arena," said Kevin Keefe, senior vice president of Bisys Separate Account Services.
The SMA industry has enjoyed tremendous growth over the last five years, jumping from $161 billion in total assets at the end of 1996 to $391 billion as of year-end 2002.
