Praemium (ASX:PPS) - CEO, Michael Ohanessian
CEO, Michael Ohanessian
Source: Financial Review
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  • Investment management company Praemium (PPS) says financial firm JBWere has extended its agreement with the company
  • Praemium currently provides non-custodial portfolio administration and reporting software for JBWere’s wealth management clients
  • This contract renewal will extend the partnership for another two years
  • Currently, the contract between the two companies has a value of over $1 million per year
  • Praemium shares are steady today, trading for 38.5 cents each

Investment management company Praemium (PPS) says financial firm JBWere has extended its agreement with the company.

Praemium currently provides non-custodial portfolio administration and reporting software for JBWere’s wealth management clients.

The company first began the partnership with JBWere in June 2016. The initial agreement was to provide client reporting solutions, using Praemium’s V-Wrap administration and reporting software.

In May of 2018, JBWere announced its intention to extend the contract for an additional two years.

This latest announcement is yet another extension which continues the successful partnership between the two companies. Like the renewal in 2018, this one also extends the contract for an additional two years.

Currently, the contract between Praemium and JBWere has a value of over $1 million per year. Praemium’s Chief Executive Officer, Michael Ohanessian, welcomed JBWere’s decision on behalf of the company.

“We are delighted that JBWere has chosen to extend its partnership with Praemium,” Michael said.

“Praemium’s virtual managed accounts (VMA) continue to be the benchmark in complex corporate actions management, performance, and asset analytics, and tax reporting,” he continued.

“Our reporting is backed by the most comprehensive range of data feeds, with performance benchmarking supported by an unmatched range of market indices,” Michael concluded.

Praemium shares are steady today, trading for 38.5 cents each at 10:37 am AEST.

PPS by the numbers
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