BoNY flogs transfer agency business to Bravura Solutions

The Bank of New York has reached an agreement to sell its transfer agency software business, Rufus, to Bravura Solutions, a global provider of wealth management applications and professional services. The sale is likely to fetch in the region of $55 million. Bravura will acquire all of the software and intellectual property comprising Rufus, and all existing employees will transfer to Bravura. Rufus is a European Transfer Agency system with functionality that supports a range of UK and European