Steve Burns This is Me

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1. 1. Institutional Investor

   www.institutionalinvestor.com/ - [Cached]

   Published on: 6/12/2004   Last Visited: 6/12/2004

   By deploying the same solution in other global operations, Commerzbank would benefit from the reduction of system maintenance and expenses, while gaining the ability to enhance the system easily in the future, said Steve Burns, executive in debt capital markets at Commerzbank.
   
   Commerzbank will first implement Principia's solutions in the London operations, assess the operational benefits it provides and the usability of the system before making a decision on expanding the use of the system to other operations centers, said Burns. The bank has operations in Frankfurt, London, New York and Tokyo. With the implementation of the automated system, the bank expects to improve operational efficiency, reduce costs, minimize errors and free resources to focus on monitoring risk. The main motivation for installing the system, however, is to implement a scalable system that can support increases in volumes and expand the asset management business, Burns said.
   
   The new system will be implemented in phases and is expected to be complete by the end of July. Burns declined to estimate the cost of the project.