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The latest technology news in the wealth management sector from around the world.
LSEG, Bank Of America, Standard
Chartered
London Stock Exchange Group (LSEG), which is being urged by
activist investors to repurchase £5 billion ($6.8 billion) of
shares, has scored two notable bank client wins this
week.
LSEG has announced multi-year partnerships with Standard
Chartered and Bank of America.
In the deal with Bank of America – which provides private banking
and wealth management among its range of services, LSEG’s data,
analytics and workflow capabilities will be made available across
the bank’s platforms.
The multi-year collaboration with Standard Chartered enables the
UK-listed bank to adopt LSEG’s multi-asset class data, news and
analytics.
Model-as-a-Service
Yesterday, LSEG said it has launched Model-as-a-Service
(MaaS), a capability that enables financial institutions to host,
distribute and analyse models through a secure and governed
marketplace.
French banking group Societe Generale has joined the marketplace
as a provider of advanced analytical models, making a set of its
flagship datasets and analytics available to both firms’
clients.
Seven of Societe Generale’s datasets and analytics will be
available via LSEG’s model marketplace, covering fixed income,
foreign exchange, environmental, social and governance data, and
equities.
MaaS is provided by LSEG through its partnership with Microsoft.
An article in Bloomerg, Reuters and other outlets said
that Elliott Investment Management, a prominent shareholder
activist firm, wants LSEG review its portfolio and
pursue a £5 billion share buyback over the next 12
months. Elliott would like LSEG to improve its efforts to
educate investors on how it could be a beneficiary of AI, with
the idea that its sticky data business would actually see more
demand from AI applications while its markets unit is largely
immune, Bloomberg, citing unnamed sources, said.
