Bessemer picks First Rate to gauge performance

FWR Staff

16 October 2006

Texan investment-analytics provider teams with big-name ultra-wealth shop. Bessemer Trust has selected First Rate as its performance-measurement product and service provider. The two companies have been working together since January 2006.

First Rate advertises in this publication.

"At the beginning of the year we set several goals to meet before going into production," says Antonio Perrotta, Bessemer's chief technology officer. "We all stuck to the objectives set, created a great team of Bessemer Trust and First Rate people, and made it happen."

Tracking

First Rate's BackOffice, a performance engine, and its Advisor, a report generator, will process Bessemer's 1,800 client relationships and 150 internal client-account managers.

"We are honored to be part of Bessemer's rich history of providing world-class investment management solutions to their valued clients," says First Rates product manager Terry Gaines.

Arlington, Texas-based First Rate, which provides investment analysis and performance measurement software, has provided performance-measurement systems to more than 125 financial institutions in its 15-year history.

New York-based Bessemer is a 100-year-old multi-family office that oversees more than $43 billion in assets across something like 1,800 relationships. It originated as the family office of Henry Phipps, a partner of Andrew Carnegie in the Carnegie Steel Company. -FWR