Date: 14 September 2017

Tags: client win

Watson Wheatley Implements iRecs Reconciliation at Palmerston Capital

Watson Wheatley Implements iRecs Reconciliation at Palmerston Capital

London – September 2017 – Watson Wheatley have announced that Palmerston Capital, the credit-focused alternative investment manager, have implemented the iRecs reconciliation solution.

Specialists in securities reconciliation, Watson Wheatley have used their own in-house implementation team to interface with Orchestrade, Palmerston’s portfolio management system, and external data sources to provide a comprehensive daily reconciliation solution. The fully automated system allows total control and remediation of daily breaks as well as comprehensive integrity checking of position and cash movements against underlying transactional data.

Jesse McCormick, COO at Palmerston Capital:

                 “iRecs has become a core element of our control environment, enhancing historic and internally developed processes, and enabling us to efficiently identify and resolve breaks. The solution represents excellent value for money and the level of automation provided  is important as we continue to grow and invest in our operational infrastructure.”

Tom Wheatley, COO at Watson Wheatley Financial Systems:

“We found interfacing with Orchestrade efficient and were able to provide valuable reconciliation output very quickly.”

“Like many of our new clients Palmerston are using our hosted solution which allowed us to implement the system extremely quickly and reduce costs.”

-- ENDS --

ABOUT WATSON WHEATLEY FINANCIAL SYSTEMS Watson Wheatley Financial Systems is a reconciliation system vendor with worldwide clients including hedge funds, long-only asset managers and commodities traders. Its principal products are iRecs and Importer. iRecs is an extremely versatile and powerful reconciliation solution, used worldwide by clients with over $160bn in assets under administration. iRecs has recently been selected as the ‘Best Technology Vendor’ and ‘Best Reconciliation & Data Aggregation Software – UK’ at the 2017 Hedge Fund Awards.

For further information please visit:

Tom has a background in investment operations working for both The Bank of New York and Cazenove Capital Management in London. He previously had a career in motorsport as a driver, instructor and operations manager both in the UK and North America. Tom holds a BSc (Hons.) in Motorsport Management from the University of Wales, the Executive MBA from Oxford University's Saïd Business School and the Investment Management Certificate.