LONDON, March 20, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by SEB Investment Management AB to provide fund administration services for over 150 funds valued at EUR40 billion.
Domiciled across Sweden, Luxembourg and Finland, the funds include SEB's fund of hedge funds and private equity funds. BNY Mellon will also be providing transfer agency for the Luxembourg-domiciled funds.
Peter Branner, CEO of SEB Investment Management AB, said: "BNY Mellon are able to offer us a solution that breaks new ground in the Nordic region, providing a platform for us to grow our funds range and to continue to innovate in the asset management space. Enhanced efficiency and reduced risk were our key priorities, and we were also looking for a partner who could support our growing ambitions around broadening our distribution capabilities across the region."
Hani Kablawi, Head of Europe, Middle East & Africa (EMEA) for Asset Servicing at BNY Mellon, said: "We will be delivering a highly integrated solution to SEB across a diverse range of funds, which include some of the most complex in the marketplace today. Accordingly, this new and valued partnership with SEB is very much a landmark deal, for both BNY Mellon ourselves and the wider Northern European fund administration business, in terms of the scope of the assets involved and the sophisticated servicing capabilities we will be providing to SEB."Notes to editors: BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.