London - Schroders, the global asset management company, has chosen Reuters (LSE: RTR) products to support its private banking operation in London.

Under the deal, portfolio managers within Schroders Private Bank will use Reuters Portfolio Management System (RPMS), to manage and report on 2,500 client portfolios. In addition the Bank will use Reuters Kondor+ to manage market risk across its private banking business.

RPMS includes Barra risk analysis, to assess and track risk levels within each portfolio, a service available exclusively within a number of Reuters products. In addition, Reuters has integrated a UK capital gains calculation tool provided by CGix from Financial Software Limited into the service.

RPMS will be fully integrated with Schroder's back office system, GlobusTM from Temenos, to enable the bank to manage its portfolios and overall investment position efficiently.

Sally Tennant, Chief Executive of Schroders Private Bank said, "We chose Reuters because they could offer us products designed specifically to support the investment process including portfolio management tools and a link through to our back office processes."

Julie Holland, Reuters Global Head of Asset Management and Research & Advisory, said, "We are delighted that Schroders has chosen Reuters to support its private banking business in London. This is the first major sale of the recently launched UK version of RPMS, and it demonstrates how we can provide services to meet the specific needs of the private banking sector."

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