The project is part of BMO Harris’ initiative to manage for growth by automating its domestic and international equities, fixed income, and mutual fund portfolios on a single, consolidated platform that offers remote access via the Web.
CRA will provides the firm’s 134 investment counselors across Canada with a Web access tool to remotely monitor and manage portfolios, compliance, trades and post-trade information in real-time for wealth management clients, according to Charles River.
BMO Harris Private Banking director of Strategic Initiatives Lara Arabian said having their entire organization working with Charles River has created significant efficiencies between their portfolio managers, traders and compliance officers.
"Previously, we were dependent upon complex spreadsheets, and manual re-entry of orders and trades. Now, we can easily submit trades and orders, rebalance portfolios, and handle large policy trades; taking into consideration all client and firm compliance rules throughout the trading process.
"We also have the flexibility to meet increased client demands for transparency and sophisticated instruments, such as options and derivatives, which historically have been unique investments for us," Arabian said.
