Princeton Financial signed five new Canadian clients in 2000, including CI Mutual Funds, Toronto; Fairfax Financial Holdings, Toronto; ING Canada, Toronto; Standard Life of Canada, Montreal; Transamerica Life Insurance Company of Canada, Toronto. This new group of clients solidifies Princeton Financial's position as the premier supplier of investment systems in Canada with a total of CAD $102 billion in assets under management.
Princeton Financial has been gaining a rapid foothold in Canada over the last few years because PAM's advanced technology offers significant advantages to companies that want to efficiently implement straight-through-processing (STP) and build a system that can grow with them. PAM's single, integrated database helps clients achieve STP through robust, real-time links to other providers. PAM's object-oriented design and relational database technology provides a flexible system architecture. In addition, PAM's comprehensive functionality includes full multicurrency capabilities, NAV/unit trust and multiple-basis accounting. A growing number of companies, including several in this year's group of new Canadian clients, are also attracted to Princeton Financial's Internet application hosting service, ePAMÃ, which enables them to remotely access PAM systems without having to deploy them at their own site.
"Our continued success in Canada is a result of the execution of our original strategy to be the premier global supplier of investment systems," said Jim Mayhall, Executive Vice President of Princeton Financial. "If you can't play in Canada and the United States, you can't be global. We have enjoyed a tremendous relationship with our clients in Canada as we have all grown and succeeded together. We are proud to be the premier provider in Canada and we look forward to continued success in this market."
Princeton Financial Systems, an independent subsidiary of State Street Corporation, is a leading provider of investment management software systems and ASP services for institutional investors worldwide. Its flagship PAMÂ® investment systems provide complete STP-ready front-to-back office functionality that can be licensed for in-house use or accessed via the Internet. Current clients include 335 investment managers, mutual funds/unit trusts, insurance companies, pension funds and banks with combined assets approaching US $3 trillion. The company is headquartered in Princeton, New Jersey USA, with offices throughout the United States and in Windsor, UK, Amsterdam, Brussels, Sydney, Singapore, and Toronto. More information about Princeton Financial Systems can be found on the Internet at www.pfs.com.