BNY Mellon Wins Best Outsourcing Deal of the Year for Services Provided to Bridgewater
Firm Captures Award for Third Consecutive Year at FSO Knowledge XChange Forum
NEW YORK, July 2, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has won the award for the best outsourcing deal of 2012 for the services that it provides to Bridgewater Associates, LP, one of the world's largest operators of hedge funds.
BNY Mellon won the award at the FSO Knowledge XChange's Sixth Annual Financial Services Transformation and Outsourcing Forum, making this the third year in a row that BNY Mellon has captured this award.
"We are pleased to be recognized for the technology expertise and service we have been providing to Bridgewater since we transitioned approximately 100 Bridgewater software experts, business analysts, accountants and other employees to BNY Mellon in December 2011 as part of our core service team," said Peter Keaveney, managing director and global financial institutions segment head for BNY Mellon Asset Servicing.
BNY Mellon has lifted out and is operating certain of Bridgewater's middle- and back-office operations, which will be converted to BNY Mellon's customisable OnCore platform. The platform will provide a fully integrated data warehouse, trade processing, portfolio accounting and derivatives processing to Bridgewater. BNY Mellon provides asset servicing outsourcing to more than 60 investment firms with assets under management totalling $1.7 trillion.
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.
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