BNY Mellon Asset Servicing, the global leader in asset servicing, has announced it is providing back office services for Delaware Investments, a Philadelphia-based diversified asset management firm.
BNY Mellon is utilizing its Eagle STAR and Eagle PACE technology to provide accounting, administration, and certain back-office services in support of all of Delaware Investments' U.S. and Dublin-domiciled mutual funds, institutional separate accounts, and other products.
"Turning to BNY Mellon Asset Servicing to perform these important functions reduces our overall risk profile and makes our costs more predictable," said Phil Russo, executive vice president and chief administrative officer of Delaware Investments. "BNY Mellon's solid reputation in outsourcing, as well as the enhanced functionality and efficiencies we derive from the Eagle platform will enable us to deliver even greater value to our clients."
Lou Maiuri, global head of outsourcing for BNY Mellon Asset Servicing, said: "For nearly a decade we've built a strong relationship with Delaware Investments, and this new mandate takes us to the next level. Especially in today's environment it makes sense for many investment firms to focus more on managing assets and client relationships - the things they do best - while relying on service providers like us to administer the back-office and maintain the technology investment."