Winsbury Cos., a leading distributer of bank mutual funds, has been given a new name: the fund services division of Bisys Investment Services Group.
Bisys Group, a Little Falls, N.J. computer-services concern, purchased Winsbury last year.
The newly rechristened fund-services division administers and distributes $25 billion of mutual funds, primarily for banks.
Bisys has also renamed its Barclay Group unit as the qualified-plan services division of Bisys' Investment Services Group.
The qualified-plan unit administers and maintains records for more than 3,000 401(k) retirement plans throughout the country.
Mary Anne Houlahan, a senior vice president of the fund services divisions, said uniting the separate companies into a single group will help with cross-selling.
In fact, Bisys can already claim its first success on that front.
First of America Bank Corp. recently became the first fund-services customer to sign up for the qualified-plan division's 401(k) service.
Ms. Houlahan said the Kalamazoo, Mich.-based banking company is using the qualifiedplan division's record-keeping and administration capabilities in a 401(k) service for small to midsized companies.
The retirement-planning service uses First of America's proprietary Parkstone mutual fund family as an investment option.
The qualified-plan group is also interested in cross-selling some of Bisys' computer services, especially a database service that can assist marketing, Ms. Houlahan said.
The initiative positions Bisys as a "single source" for back-office services, she added.
