Source: Brown Brothers Harriman
Brown Brothers Harriman & Co. (BBH) announced today that Charles Schwab Investment Management has expanded its relationship with BBH to include additional mandates for global custody and securities lending services for the Schwab Funds, one of the largest U.S. mutual fund companies.
The decision was based on BBH's high quality service, industry expertise and operational excellence, delivering one of the highest straight-through-processing (STP) rates in the industry. Operating from a single technology platform, BBH will provide the Schwab Funds integrated services, with access to over 90 markets offered through BBH's extensive network of subcustodian banks.
"BBH has provided the Schwab Funds with excellent custody and securities lending services and has demonstrated that it continues to be a leading edge provider of these services in our industry. We are happy to be expanding our relationship with them," said George Pereira, Chief Financial Officer of Charles Schwab Investment Management.
"We are excited to expand our existing relationship with Charles Schwab Investment Management," said Timothy J. Connelly, Partner. "This is a great opportunity to provide value-added services to the Schwab Funds and complement their high-quality investment offerings."