LONDON, May 13, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by River and Mercantile Asset Management LLP to provide middle and back office solutions for assets valued at $3.1 billion.
In an extension of its existing outsourcing agreement with River and Mercantile, BNY Mellon is now providing middle office services and accounting in support of nine open-ended investment companies (OEICs) and all of River and Mercantile's segregated funds.
BNY Mellon is also providing data management services for all those assets using technology developed by Eagle Investment Systems, its wholly-owned subsidiary. Data is consolidated, validated and enriched by BNY Mellon before being delivered to River and Mercantile; the client can then augment that data in-house to support its front office, audit and compliance requirements.
Julian Cripps, COO at River and Mercantile said: "BNY Mellon's ability to provide a flexible middle office solution on globally-deployed technology was a key differentiator when it came to appointing our service provider. The quality of service and the level of support already provided by BNY Mellon, and the strong partnership our two companies have established over the past six years, were also key factors in our decision to extend our relationship."Daron Pearce, EMEA head of global financial institutions, Asset Servicing at BNY Mellon, said: "The robust and scaleable nature of our unified middle office solution will allow River and Mercantile to meet the demands of new mandates more effectively. This expansion of our arrangement will assist River and Mercantile to bring new products and services to market more swiftly and to efficiently assimilate new business. It will also enable its management team to focus greater resource and investment on the activities that add value to their company, namely investment management and business development." Under the terms of its existing outsourcing arrangement, BNY Mellon already provides River and Mercantile with global custody, trust and depositary, transfer agency, fund accounting and FX services.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV