Western Asset Selects T-Scape’s Global Corporate Actions Processing Application, iActs, as Its Strategic Application of Choice
- Asset Management
- 01.12.2022 09:50 am
T-Scape, a leading digital technology services company, announced today that Western Asset, one of the world’s leading active fixed-income investment managers, has renewed its agreement with the company, specifically for its corporate action application, iActs, with the signing of a new multi-year contract.
The contract renewal will enable Western Asset to continue to evolve its global corporate action operating model, adapting it to changing business requirements; doing so will help increase efficiency. Leveraging its deep understanding of corporate actions and digital expertise T-Scape will help Western Asset elevate its operations still further, allowing additional increases in productivity, reduced levels of risk, and ultimately a greater level of control over
the entire corporate action operation.
“Western Asset is delighted to extend its relationship with T-Scape, a provider with a proven track record that has demonstrated its capacity to help us transform and significantly improve our global corporate action processes using iActs,” said Danny Shiggins, Head of International Securities Operations at Western Asset. “A lot of effort went into researching corporate action providers back in 2019; we determined then that T-Scape and iActs were the best fit for Western Asset. We felt we’d made the right decision then, and with this new deal we are reaffirming that decision.”
The next significant step in the evolution of iActs at Western Asset is extending its usage beyond operations and into the front office. This will result in front office participants such as portfolio managers having both a window through which they can view corporate action activity and the tools to actively engage in the process. This active engagement will also include compliance and client services and will mean further automation and improved efficiencies throughout.
“It has been a hugely satisfying experience working with the team at T-Scape. We developed a good working relationship early on and that’s continued. We’re very much looking forward to improving our processes across the board,” said Dan Place, Head of NY Securities Operations at Western Asset. “iActs is spot-on in terms of delivering to an investment manager’s requirement, but it’s what is yet to come that excites me. Bringing the front office into the equation and managing that from a compliance perspective is something we have been keen to address for some time. With iActs we now have an operating model that can bring all the pieces together.”
“As you can imagine, we are absolutely delighted that Western Asset has put its trust in T-Scape continuing to fulfil the Firm’s business requirement, it’s a fantastic deal for both companies,” said David Baxter, Managing Director at T Scape. “Good collaboration is absolutely critical if a project is to succeed and, it’s this as much as anything, that is enabling us to build mutually beneficial long-term relationships. We look forward to building upon what’s already been achieved, adding value at every juncture and ensuring Western Asset maintains a global corporate actions operating model that is second to none.”