BNY Mellon wins Arga back office mandate
22 September 2010 | 2419 views | 0
Source: BNY Mellon
BNY Mellon Asset Servicing, the global leader in asset servicing, has announced a new mandate to provide back-office services for ARGA Investment Management, LP, a Stamford, Conn.-based independent investment management firm focused on global equities. BNY Mellon will provide ARGA with a range of outsourcing services, including trade support, accounting, reconciliations, performance measurement, client statements and client billing.
BNY Mellon's newly named outsourcing service, OnCore(SM) , provides an integrated offering for investment managers, combining technology and operations to deliver a sophisticated suite of middle-office and data management solutions. BNY Mellon currently provides middle-office outsourcing services for 60 clients with a combined $1.4 trillion in assets.
"Outsourcing these back-office functions is clearly the right choice for us on many levels," said ARGA founder and Chief Investment Officer A. Rama Krishna. "BNY Mellon gives us the technology, the processing power, and the people support we need, so that we're able to concentrate our energies on investment performance and superior client service."
"New and growing asset management firms like ARGA need to prioritize what they do best and where an outside provider can enhance efficiency," said Lou Maiuri, global head of outsourcing for BNY Mellon Asset Servicing. "Today's industry and regulatory environment places a lot of demands on investment managers and their financial reporting, and that's exactly where our knowledge of the market and continual investments in modular, scalable systems can provide them with an operational edge."