Ark Asset Management Signs Up for Eagle Access ASP

US equity and fixed income asset management firm Ark Asset Management has decided to move from its installation of the Eagle investment management suite, which is currently managed in-house, to the Eagle Access ASP booth # 2111).

Ark implemented Eagle’s data management, accounting, and performance solutions in 2003. Since then, Ark has incrementally shifted its technology strategy from internally managing its middle and back office systems to a total outsource model and the migration to Eagle Access will be the final step in the process.

“A number of our clients are migrating from the installed version to the ASP model,” explains John Lehner, president of Eagle. Ark has been a client of Eagle’s for around six years and their needs have gradually changed over time as the firm has outsourced its middle and back office to iX Partners, he says.

Gillian Plastaras, chief administrative officer of Ark Asset Management, adds: “As our firm has evolved, we have shifted our focus to leveraging Eagle’s robust solutions to our maximum benefit, without the costs and need for additional resources dedicated to managing and maintaining an in-house platform.”

The migration process to the ASP model is currently ongoing, says Lehner, and it typically takes a few months to complete this process. iX Partners will continue managing the remaining in-house technology and will interface directly with Eagle Access on Ark’s behalf.

Eagle currently has around 25-30 ASP clients and Lehner reckons that this number is likely to increase significantly over the next year, especially among the smaller firms. “Six clients displayed interest in moving to the ASP model at our client conference this year,” he says. “But this was not just limited to the smaller players in the market.”