Bank of Hawaii Investment Services Group Enhances Wealth Management Options for Clients
Smartleaf & Prima Capital Help Bank Provide Unified Managed Accounts,
New Manager Models and Customized Products for Bank’s Customers
HONOLULU, August 5, 2010 – Bank of Hawaii’s (NYSE: BOH) Investment Services Group is now offering its clients a new, open architecture unified managed account (UMA) offering that can integrate multiple products into a single account. Bank of Hawaii is unveiling this offering with the help of Smartleaf, Inc. and Prima Capital, two leaders in the investment industry.
“This move is a considerable benefit for our investment clients, and is the final piece in our long-term transition to an ‘open architecture’ process,” said Stephen Rodgers, Bank of Hawaii’s chief investment officer. “These enhancements will provide investment clients with a full range of outside managed products, including mutual funds, third-party manager models, and exchange-traded funds (ETFs) to complement internally managed products. While open architecture itself is not a new concept, the reason for our decision to make the transition at this time is the incorporation of new technology and enhancements in the industry that positions us well ahead of traditional open architecture providers.”
Smartleaf, a provider of advanced overlay management solutions, will provide Bank of Hawaii with a portfolio management system that enables multiple investment vehicles (including individual securities, mutual funds, and ETFs) to be managed in one account while incorporating individual client preferences for taxes, risk tolerance, and liquidity. Prima Capital, an independent provider of investment manager due diligence, will help support a robust and objective manager selection process. Bank of Hawaii will have access to Prima’s proprietary research that provides analyst commentary, product profiles and tools to evaluate and monitor investment managers.
“These enhancements provide the best of both worlds: excellent outside money managers combined with Bank of Hawaii’s investment expertise and client service, resulting in flexible products that will be a real benefit to our clients,” Rodgers said.
Bank of Hawaii’s Investment Services Group is the largest provider of trust and asset management services in the state with 327 employees and $6.6 billion of assets under management.
About Bank of Hawaii
Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. For more information about Bank of Hawaii Corporation, see the Company’s web site, www.boh.com.
Smartleaf’s overlay portfolio management solution enables financial institutions to easily implement their best investment thinking and customization preferences across all client accounts, combining proprietary and third-party research to deliver a seamless open-architecture Unified Managed Account offering. By integrating a client’s assets into a single, customized portfolio, wealth managers using Smartleaf have achieved significant benefits in tax and investment management. The company has a 100 percent success rate with implementations and deliverables. Founded in 1999, Smartleaf has $25 billion in assets being managed in its system, is privately held and based in Cambridge, Mass. For more information, visit www.smartleaf.com.
About Prima Capital
Prima Capital, a Matrix Financial Solutions affiliate company, is a leading provider of due diligence, research applications, asset allocation modeling, and multi-manager portfolios to the wealth management and retirement industries. For over a decade, Prima Capital has provided objective due diligence and powerful evaluation tools to advisors and wealth management firms of all types and sizes. This combination of advice and technology helps empower advisors and improve the efficiencies and distinction of wealth management programs. Today, Prima Capital is an independent source for information on managed account strategies (UMA and SMA), mutual funds, ETFs, and alternative investments through the PrimaGuide® research application. For more information, visit www.primacaptial.com.
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