Schroders outsources middle office to BoNY

Schroders outsources middle office to BoNY

Schroder Investment Management is outsourcing its middle office investment operations in North America to Bank of New York.

As part of the outsourcing arrangement, BoNY has assumed responsibility for a range of operational functions, including trade support, fail management, data management, investment accounting, third party custodian reconciliation, performance measurement and end-client appraisals on a private label basis.

In addition, the bank will develop and host a private-label Web portal for Schroders.

Andrew Bell, managing director and head of BNY SmartSource, the Bank's outsourcing business for global investors, says: "The trend toward a fully integrated outsourcing arrangement continues to accelerate, and we are pleased that our efficient, cost-effective outsourcing solution has been selected by Schroders."

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