BBH Infomediary, Brown Brothers Harriman's technology and outsourcing services arm, has acquired the business of privately-held Syllog, operator of the largest Swift service bureau in the US.
Under the agreement, all of Syllog's clients - which include a number of leading asset managers - are migrating to the Infomediary platform. Infomediary supports multiple methods of Swift connectivity, as well extensive non-Swift communications, including over 100 ISO15022 message types and proprietary formats.
BBH now caters for the messaging requirements of 40 buy-side firms, with the bureau service supplanting sponsored links to the Swift network using the BBH Bank Identifier Code.
David Finkelstein and Tim Gamble, the two principal owners of Syllog, have joined BBH Infomediary's business and systems development respectively as vice presidents.
Gamble comments: "BBH's extensive experience and sophisticated technology, in conjunction with the new SwiftNet network capabilities will ensure the Syllog clients are well-positioned for the future."
Financial terms of the transaction were not disclosed.