LONDON, February 21, 2011 — BNY Mellon Asset Servicing, the global leader in securities servicing, has been appointed to provide fund accounting, transfer agency, custody and corporate & domiciliary services to Standard Life Investments Global SICAV.
Domiciled in Luxembourg, the SICAV has assets under management in excess of EUR8 billion across 20 sub-funds and is viewed by Standard Life Investments as its key vehicle for achieving increased global distribution.
Mike Tumilty, Director of Operations at Standard Life Investments (SLI), said: "By the end of the selection process it became clear that BNY Mellon had proven capability in securities servicing. I'm therefore pleased that we've appointed them to provide the necessary support to what is an area of increasing strategic importance to Standard Life Investments. We already work with BNY Mellon in key parts of our UK business and this agreement will help cement the long-standing relationship between both our organisations."
Ross Whitehill, Head of Offshore at BNY Mellon Asset Servicing, said: "Our flexibility and ability to offer a robust set of solutions were central to Standard Life Investments' decision to select us as their provider. Our introduction of share class hedging for the SICAV and Global Distribution Support capabilities to support SLI's planned expansion in the Asia-Pacific region were key elements of our proposition to Standard Life Investments. This appointment underlines our status within Luxembourg as the provider of choice for investment managers looking for a scaleable and nimble partner who can help them execute their growth strategy."
With assets under management of €177.5bn Standard Life Investments is one of Europe's major investment houses (30.09.10). It was launched as an investment management company in 1998 and is a wholly owned subsidiary of Standard Life Investments (Holdings) Limited, which in turn is a wholly owned subsidiary of Standard Life plc. Standard Life Investments operates in the UK, Canada, Ireland, Hong Kong and the USA, and has representative offices in Germany, France, South Korea, Beijing and Australia. It also operates in India through a joint venture, HDFC AMC.
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 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, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com.