Saudi Unit Of HSBC Replaces Proprietary System With Thomson's Portia

PORTFOLIO MANAGEMENT

RIYADH, Saudi Arabia--The Saudi British Bank signed a contract to install Thomson Investment Software's Portia system to replace a set of in-house front- and back-office portfolio accounting, analytical and trading systems.The asset management arm of the bank has 13 managed funds, according to Jonathan Faquarharson, senior manager, investment and mutual funds.The bank is 40 per cent owned by Hongkong and Shanghai Banking Corp., and is the third largest international equity broker in Saudi Ar