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PRAEMIUM LIMITED — Capital/Financing Update 2014
May 22, 2014
65606_rns_2014-05-22_41efff38-c972-49fb-8302-3d34c88a26d6.pdf
Capital/Financing Update
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Dah Sing Bank signs up to WealthCraft
23 May 2014, Melbourne: Praemium (ASX: PPS) is pleased to announce that its subsidiary, Praemium Asia Limited, has executed an agreement with Dah Sing Bank Limited to provide customised software utilising WealthCraft’s customer relationship management, workflow and financial planning modules.
Established in 1947, Dah Sing Bank and its subsidiaries (Banco Comercial de Macau and Dah Sing Bank (China) Limited) provide banking and financial services through a branch network of around 70 branches across Hong Kong, Macau and the People's Republic of China. As at 31st December 2013, Dah Sing Banking Group Limited and its subsidiaries controlled over A$18 billion in deposits, with annual operating income in excess of A$512 million.
Praemium CEO Michael Ohanessian commented, “We are delighted to be assisting an important Hong Kongbased institution like Dah Sing Bank to enhance its wealth management proposition. Our client-centric WealthCraft solution will enable Dah Sing Bank to manage its clients in an integrated, visible and scalable way.”
The roll out of the new service through the Dah Sing Bank network is planned for completion in 2015.
About Praemium : Praemium is a global leader in the provision of investment administration, Separately Managed Account (SMA) and financial planning technology platforms. Praemium administers in excess of 300,000 investor accounts covering approximately $80 billion in funds globally, and currently provides services to approximately 700 financial institutions and intermediaries, including some of the world’s largest financial institutions.
For further information contact: Mr Paul Gutteridge, Company Secretary +613 8622 1222