BNY Mellon Asset Servicing inks Cowen outsourcing deal

Source: BNY Mellon Asset Servicing

BNY Mellon Asset Servicing, the global leader in asset servicing, announced that it will administer the back- office and provide custody for Cowen Asset Management, the recently launched asset management firm of Cowen Group.

BNY Mellon Asset Servicing will provide a number of outsourcing services, including transaction processing, custodian reconciliation, performance measurement and analytics, and investor reporting.

"We are pleased to be have been selected by Cowen to provide back-office support for its new asset management arm," said James P. Palermo, co-chief executive officer of BNY Mellon Asset Servicing. "We intend to provide Cowen with top-notch client service and technology, enabling Cowen to concentrate its resources on investment strategies and other front-office areas where it has a competitive edge."

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