Micropal
| Industry | Financial Services |
|---|---|
| Founded | 1985 |
| Defunct | November 1997 |
| Fate | Acquired |
| Successor | Standard & Poor's |
| Headquarters | London, United Kingdom |
| Products | Micropal Workstation |
Number of employees | 150 [1] |
Micropal Group Limited, known as Micropal, was a global financial services company specialising in the collection and analysis of mutual fund performance data.
History
The firm was founded and financed in 1983[1] by Christopher Poll[2] and John Richardson. In 1985, the company consisted of 7 people [3] who developed the company into 15 offices around the world, including an agency started in 1991 in Switzerland by Justin Wheatley,[4] The company expanded into the US with the acquisition of Investment Company Data, Inc.
Acquisition by The McGraw-Hill Companies
In November 1997, The McGraw-Hill Companies, a global publisher purchased Micropal, in order to add the firm to its Standard & Poor's market information brand. Micropal became the '"S&P Micropal" division of Standard & Poor's. Christopher Poll, who had been serving as Chairman, retired from the company, and Mark Adorian was appointed to head the new division.[1]
In March February 22, 2007, Standard & Poor's mutual fund data business, including Micropal, was acquired by Morningstar, Inc. for US$55 million.[5] and [6]
Business description
During its existence, Micropal came to be considered a global leader in providing independent information on mutual funds[7] In Europe, their data, rankings & awards were widely quoted in media outlets as well as the marketing materials of fund companies. Christopher Poll and other members of the company would also be called upon to offer sound bites on subjects related to the mutual fund industry.[citation needed]
Micropal was the first mutual fund tracking company to establish itself in Asia, and by the time competitors began to seriously enter the market in 1997 Micropal had 12 employees in four regional offices [8]
References
- ^ a b c "The McGraw-Hill Companies to Acquire Micropal". Retrieved April 29, 2007.
- ^ "Christopher Poll biography @ www.future-route.com". Retrieved April 29, 2007.
- ^ "Mark Adorian biography @ www.statpro.com". Retrieved April 29, 2007.
- ^ "Justin Wheatley Biography @ StatPro.com". Retrieved September 19, 2007.
- ^ "Standard & Poor's Press Release". Retrieved April 29, 2007.
- ^ "Standard & Poor's Press Release". Retrieved April 29, 2007.
- ^ "Dispatch Online Article, June 4, 1999". Retrieved May 16, 2007.
- ^ Tam, Pui-Wing. "Firms Vie to Offer Data On Mutual Funds in Asia - WSJ.com". The Wall Street Journal. Retrieved May 16, 2007.