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PIMCO Selects Markit and KYC.com to Bolster Onboarding

This post has been superseded at finovate.com.

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Multinational investment management firm PIMCO has selected information services provider Markit and kyc.com to bolster its due diligence and onboarding procedures.

With $1.5 trillion in AuM, PIMCO is one of the largest asset managers to implement Markit’s regulatory and compliance products. PIMCO will use the centralized repository, created in a joint effort by Markit and kyc.com, to exchange counter party documentation and validated entity data across onboarding functions and to communicate with counter parties.

Tracey Jordal, EVP and senior counsel for Trading and Markets at PIMCO cites the added value for the California-based firm, “The seamless interoperability between these platforms to support client onboarding, master agreement negotiation and tax validation as a unified group of steps is particularly beneficial.”

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Markit On Demand’s Head of Development, Chris Bailey, recently gave a presentation at FinDEVr New York titled, Financial Charts: Getting The Details Right in which he described how to keep financial charts on the cutting edge. Founded in 2003 and based in London, Markit employs more than 4,000 people in 11 countries.

Earlier this month Markit signed Acadian as its latest managed services EDM customer and in March the company merged with analytics company IHS in a deal valued at $13 million.