NETHERLANDS - Princeton Financial Systems, a wholly owned subsidiary of financial services giant State Street, has opened an office in Amsterdam.

Princeton, which provides investment management and accounting systems to global institutional investors, said it had signed a number of new clients in the region over the past year, including the doctor’s fund SBA Artsenpensioenfonds, OPTAS, a Rotterdam-based pension insurance company and Hansabank Group, the largest financial institution in the Baltic region.

PFS now has over 20 clients in Europe and expects “significant growth” in the coming year.

Lorne Whitmore, Princeton’s managing director of global sales, said: "The opening of our office in Amsterdam reflects our recent success and continued commitment to the European market.

“The decision to extend our presence in this region is consistent with our plans for growth and the desire to establish a presence closer to the markets that we serve.”

The Amsterdam office is headed by Marcel de Vries, formerly of Thomson Financial in London.

Princeton said its investment management systems are currently used worldwide by over 375 investment managers, insurance companies, mutual funds and unit trusts, pension funds, hedge funds, endowments, banks, and corporations, which manage combined total assets of over US $3 trillion.

The company has offices in the US, Canada, United Kingdom, the Netherlands, Belgium, Australia, and Singapore.

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