First Data Investor Services Group, Inc. Extends Contracts with Seligman Data Corp., Eaton Vance Management and Ivy Mackenzie Services Corp.
June 12, 1998
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WESTBOROUGH, Mass., June 11 /PRNewswire/ via NewsEdge Corporation -- First Data Investor Services Group, Inc., the mutual fund and distribution services business unit of First Data Corporation (NYSE: FDC), announced today that three major fund companies -- Seligman Data Corp., Eaton Vance Management and Ivy Mackenzie Services Corp. -- have each extended their existing contract with the firm. Total assets serviced by First Data Investor Services Group currently total approximately $660 billion.
"The decision by three of our key clients to extend their contracts is a clear indication that First Data Investor Services Group's performance continues to maintain the high level the industry has come to expect of us; providing superior services and innovative technology," said Jerry Kokos, executive vice president, Transfer Agent Services, First Data Investor Services Group. "Through our commitment to 'redefining distribution' we offer clients powerful tools they need to sell and service customers across various product lines and distribution channels."
New York-based Seligman Data Corp., the service agent for the Seligman Group of Funds and Tri-Continental Corporation, has expanded its services to include First Data Investor Services Group's state-of-the-art IMPRESSPlus, a customized Internet-enabled electronic data system that allows financial institutions to seamlessly merge information from multiple data systems and technologies. First Data Investor Services Group will also continue to provide remote transfer agent services into the year 2002 based upon a recent contract extension between the two firms.
Our corporate mission is to provide superior levels of service to all of our clients and to be a value added service provider for the financial advisors and investors utilizing the Seligman Group of Funds for their investment needs. We believe that by continuing our existing business partnership with First Data Investor Services Group, we will remain well positioned to strategically and effectively deliver exemplary levels of service to our clients," said John H. Clark, president of Seligman Data Corp.
Seligman Data Corp. services more than 1.1 million shareholders with more than $19 billion in fund assets across equity, international, fixed income, municipal bond and closed end funds. Seligman Data Corp. was also the recipient of the 1997 Mutual Fund Service Award and the 1997 Financial Intermediary Service Award presented by Dalbar to firms achieving the highest standards of service in the mutual fund industry.
First Data Investor Services Group also provides full service transfer agent services, including print/mail and teleservicing to Boston-based Eaton Vance Management, a client since December 1987. Eaton Vance has extended its contract with the Investor Services Group until July 2002. Eaton Vance manages assets totaling $25.5 billion spread among a wide range of equity, international, emerging markets, municipal bonds and prime rate funds as well as privately managed accounts.
"Our half million shareholders expect to receive the optimum level of customer service available today and we are confident that First Data is committed to providing this level of service," said Daniel C. Cataldo, vice president, Mutual Fund Operations, Eaton Vance Management.
Ivy Mackenzie Services Corporation, a Florida-based fund family offering 17 load funds with assets totaling $3.9 billion, is also expanding its current five-year contract to include IMPRESSPlus.
"Thanks to its state-of-the-art technology, IMPRESSPlus allows us to tap into all the benefits that today's electronic environment can offer, providing our clients access to the most comprehensive level of servicing currently available," said C. William Ferris, President, Ivy Mackenzie Services Corp. First Data Investor Services Group will also provide IMPRESSNet, enabling Ivy Mackenzie's 120,000 shareholders to access account information, perform transactions and receive other on-line services via the Internet.
With a servicing portfolio of approximately $660 billion, First Data Investor Services Group, Inc., a subsidiary of First Data Corporation (NYSE: FDC), is one of the nation's leading providers of mutual fund and retirement plan services to banks, investment advisory firms, mutual fund complexes, third party administrators, insurance companies and broker/dealers. With approximately 2,400 employees, the company currently services more than 22 million shareholder accounts and operates 24 hours a day, seven days a week. In addition to headquarters and offices in Massachusetts, First Data Investor Services Group maintains operations in California, Florida, Georgia, Maryland, North Carolina, Pennsylvania and Virginia.
First Data Corporation is one of the world's leading providers of transaction processing services -- credit, debit and pre-paid card processing; payment systems; electronic commerce and information-based services to both businesses and consumers. In partnerships with clients, primarily financial institutions, and a worldwide Western Union agent network, First Data processes the information that allows consumers to pay for goods and services by check or card or any form of payment except cash -- at any point of sale, whether at the retail counter or on the Internet. And, through Western Union, First Data is the global leader spanning more than 150 countries in money transfer services that are convenient, fast and reliable. With an international employee base of more than 36,000, First Data delivers innovative solutions and quality service to a broad base of clients and consumers needing to transact business -- anytime, anywhere.
SOURCE First Data Investor Services Group, Inc.
/CONTACT: Jeanette Harrison-Sullivan of First Data, 508-871-9863/ (FDC)
[Copyright 1998, PR Newswire]
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