On Wednesday, Charles River Development, a provider of financial software and services to the global investment management community, announced that Zurich-based AIG Private Bank has selected the Charles River Investment Management System (Charles River IMS) to automate compliance monitoring across its mutual fund management division, AIG Fund Management (Switzerland).
This selection widens AIG's existing global agreement with Charles River to five countries, including the US, Canada, Japan, Singapore and Switzerland. Charles River IMS will provide AIG Private Bank Group with end-of day compliance monitoring for all asset classes. The system's ‘natural language' rule-building and maintenance tools ensure compliance with Swiss and other regulations as well as client mandates.