Princeton Raids Sungard Insurance; Pams Snaps Up Five Par-ex Clients

PORTFOLIO MANAGEMENT SYSTEMS

New Jersey-based portfolio management and accounting system vendor Princeton Financial Systems has scooped up five insurance companies from rival Sungard Insurance Systems within the last two months, says a Princeton spokesperson. Ranging in assets under management from $5.2 billion down to $100 million, the five new accounts bolster Princeton's presence in the insurance company marketplace. Though not major accounts separately, combined the defections represent over $8 billion in assets Sun

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