A PNC Bank Corp. unit has sold off a software application for portfolio modeling and analysis to a subsidiary of Marshall & Ilsley Corp.
M&I Data Services, Milwaukee, bought all rights to the software, called Invest/CFA, from Decision Technologies Inc. Terms of the recent deal were not disclosed. BlackRock Inc., the investment management unit of Pittsburgh-based PNC, owns Decision Technologies.
M&I Data provides technology support for trust businesses of unaffiliated financial institutions. Invest/CFA will let M&I Data offer graphical portfolio modeling and analysis tools, said Michael Hayford, an M&I Data executive vice president.
M&I Data also announced 15 new trust clients last week, including Bank of Oklahoma in Tulsa, First Midwest Trust Co., Joliet, Ill., and Valley National Bank, Clifton, N.J.
M&I Data now provides products like TrustDesk and TrustReport to 135 customers nationwide.
TrustDesk is designed to provide trust administrators and investment professionals with easy access to customer and asset information. TrustReport provides customer statements that are graphical and easy to understand.
Separately, in an effort to attract potential investors to its Marshall Funds complex, the banking company said it has linked the bank Web site to one dedicated to the fund family.
Customers can obtain account opening information 24 hours a day, daily mutual fund pricing, fund performance information, and other services.
"We want our bank customers to know that we are a full service financial provider," said Catherine Voss, director of marketing for the Marshall Funds.
Marshall & Ilsley, a $21 billion-asset banking company, manages $4.3 billion in the Marshall Funds.