Principal Global Investors Taps Eagle for IBOR Solution

Asset manager to replace legacy systems with Eagle's portfolio accounting solution to create a global IBOR.

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Based in Des Moines, Iowa, Principal Global Investors manages $379.9 billion in assets.

Principal Global Investors, the asset management arm of Principal Financial Group, has selected Eagle Investment Systems to implement an investment book of record (IBOR) solution.

In order to support PGI's multi-boutique model, Eagle Investment will implement a shared, consolidated technology platform, with exception-based workflow monitoring and a hosted offering.

As part of the implementation, PGI will replace its legacy accounting-centric platform and batch updates with Eagle Accounting, which can deliver IBORs for multiple regions.

"The Eagle IBOR solution fits well into our future state architecture and will support the complex multi-asset portfolios we manage on behalf of our global clients," said Brian Ness, chief information officer at Principal Global Investors in a statement. "Eagle's collaboration with its parent company BNY Mellon was also a significant factor in our selection in part due to our longstanding relationship with BNY Mellon, but also because it gives us the confidence that we have a long-term technology vendor we can grow with over time."

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