Thomson Reuters to Provide Investment Management Outsourcing to Manulife
Thomson Reuters has announced that it will provide investment management outsourcing support to MFC Global Investment Management, the asset management arm of Manulife Financial Corporation, a Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide.
As part of the deal, MFC Global has contracted Thomson Reuters PORTIA for its investment recordkeeping solution for its public assets – listed at US$66bn as of 31 December 2008. For MFC Global, this enables the introduction of a single book of record for the public asset component of its investment management business.
Thomson Reuters will provide MFC Global with a range of investment operational hosted software services including data management, portfolio recordkeeping, management reporting and disaster recovery support.
The Boston office of MFC Global (formerly John Hancock Advisors before Manulife acquired John Hancock Financial Services in 2004) has used Thomson Reuters system for nearly 10 years. The outsourced services solution will be deployed this year using a multi-phased approach. Upon completion, it will provide a global platform for MFC Global’s operations in the US, Canada, the UK and throughout Asia.