Pell Rudman Outsources With Security APL, Replacing Data Exchange System

PORTFOLIO SYSTEMS

AFTER 10 years using an in-house system from the now-defunct Data Exchange, Pell Rudman & Co., a Boston-money manager for high net-worth individuals with $2.8 billion in assets under management, says it will finish converting all its portfolio data this month to Security APL's external service bureau.

Despite a stampede in recent years among money managers to run portfolio management software on their own in-house client-server systems, the external mainframe, maintained and operated by a

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