Source: BNY Mellon Asset Servicing
BNY Mellon Asset Servicing, the global leader in asset servicing, announced that it has signed a five-year extension to its outsourcing agreement with The TCW Group, an asset management firm based in Los Angeles.
Through the new agreement, BNY Mellon Asset Servicing will continue to support all of TCW's back and middle office investment operations, including trade processing, bank loan processing, investment accounting, partnership accounting, performance, attribution, analytics, financial statements, client billing and client statements. BNY Mellon Asset Servicing has been an outsourcing provider to TCW since 2001.
"We look forward to continuing our partnership with BNY Mellon Asset Servicing," said TCW President William Sonneborn. "Their commitment to ever- improving technology and services goes a long way toward helping TCW accomplish its business objectives."
"More and more investment firms are turning to outsourcing providers as a cost-effective strategy. BNY Mellon Asset Servicing's technology and breadth of expertise enables these firms to focus on their core business of managing assets," said Vince Sands, executive vice president of BNY Mellon Asset Servicing "We're pleased that TCW has decided to renew its relationship with us, and we look forward to meeting their needs both now and well into the future."