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Company News

BRIEF-IGM Financial announces initiatives to enhance operational effectiveness

Nov 14 (Reuters) - IGm Financial Inc

* IGM Financial Inc. announces initiatives to enhance operational effectiveness

* IGM Financial - during Q4, will record a one-time charge of about $118 million after-tax, or $160 million pre-tax which equates to $0.49 per share after-tax

* IGM Financial Inc - among initiatives is a decision to discontinue development of a new investment fund accounting system

* IGM Financial Inc - after a thorough review, company instead will upgrade its current solution for investment fund accounting system

* IGM Financial - post implementation of initiatives, anticipates 2018 non-commission expense increases of 5% relative to 2017

* IGM Financial - due to discontinued development of investment fund accounting system, other decisions, co to record charge about $74 million after-tax Source text for Eikon: Further company coverage:

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