Hawaiian Electric renews contract 01 November 2010Wayne Reporter: Steven Lafferty
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Hawaiian Electric Industries, Inc. (HEI), which supplies power to 95% of Hawaii's population through its electric utilities and provides banking and other financial services to consumers and businesses in Hawaii through American Savings Bank, has renewed a multi-year contract for SunGard's Stream CSSII investor recordkeeping system for corporate issuer transfer agents.
Stream CSSII provides recordkeeping capabilities that help publicly held companies directly service their shareholders and offer online self-services. HEI has used Stream CSSII since 1993.
Laurie Loo-Ogata, director of shareholder services at HEI, said, "Many of our shareholders are also our customers, so providing a personalized, local touch in our shareholder services is very important to us. SunGard's Stream CSSII provides us with a full-functioning, reliable system for maintaining our shareholder records, giving us the ability to keep shareholder services in-house and helping us deliver a better level of service consistently and cost-effectively."
Gerry Murphy, president of SunGard's brokerage and clearance business, said, "Many organizations continue to seek ways to control costs and gain efficiencies without sacrificing service to shareholders. Stream CSSII helps Hawaiian Electric provide high quality investor services while helping maintain efficiencies in recordkeeping."
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