Source: BNY Mellon Asset Servicing
BNY Mellon Asset Servicing announced that it will administer the back office, including trade processing, bank loan processing, investment accounting, reconciliations and performance measurement, for Logan Circle Partners, a Philadelphia-based investment group that focuses on fixed income strategies for institutional investors.
BNY Mellon Asset Servicing also will provide client statements and billing to clients of Logan Circle, which formed earlier this year.
"We continue to build our business of providing back-office support for start-up asset managers, many of which have grown into substantial businesses," said Vince Sands, executive vice president of BNY Mellon Asset Servicing. "Savvy start-ups such as Logan Circle are concentrating their efforts on investment strategies and other front-office activities and relying on our asset servicing expertise for their back-end operations."
"The merger of The Bank of New York and Mellon Financial has created an asset servicing group with the breadth, technology and top-notch client service that we require to support our own rapidly growing business," said Michael Bishof, chief operating officer and chief financial officer of Logan Circle Partners.