BOSTON–(BUSINESS WIRE)–Aug. 26, 2003–Eagle Investment Systems Corp. announced today that Chief Executive Officer Jack Riley is retiring at the end of this year after co-founding the company morethan 13 years ago. David Palten, co-founder and president of Eagle, will assume the additional responsibility of CEO and will report directly to Jim Palermo, vice chairman of Mellon FinancialCorporation and president of Mellon Global Securities Services.
“Jack has had a tremendous career spanning more than 30 years in the area of financial-technology. His contributions to Eagle and Mellon will positively impact the direction of both organizations for years to come,” Palermo said. “Under his visionary leadership, Eagle has become one of the premier investment software firms in the financial services industry.”
“Jack has built a strong organization at Eagle, positioning us very well for the future, and we thank him for all he has done for our company,” Palten said. “We will work closely together through the end of this year to ensure a seamless transition.”
Palten also has been with Eagle since its inception and has more than 20 years of executive management experience to his expanded role. He previously worked at Aetna Life and Casualty where he was involved with a multitude of investment systems projects. He also held positions with Andersen Consulting and National Westminster Bank in New York. In 1989, he co-founded Eagle Investment Systems along with Jack Riley and Kevin Sullivan, currently the chief technology officer of the company. Eagle joined Mellon in 2001.
About Eagle Investment Systems
Eagle, a Mellon Financial Company(SM), is a global provider of financial services technology. Eagle’s Web-based systems automate internal systems to support STP requirements of money managers, mutual funds, hedge funds, brokers, plan sponsors, banks, corporate trusts, and insurance companies. Eagle provides solutions for portfolio management, investment accounting, performance measurement, attribution, AIMR/GIPS compliance, reporting, messaging, reference data management, and outsourcing. To learn more about Eagle’s solutions, contact us at 1.800.810.3819 or sales@eagleinvsys.com or visit www.eagleinvsys.com.
About Mellon Financial Corporation
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world’s leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources services and treasury services. Mellon has approximately $3.1 trillion in assets under management, administration or custody, including $612 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. News and other information about Mellon is available at www.mellon.com.
