NEW YORK, August 1, 2011 — BNY Mellon, the global leader in investment management and investment services, announced that for the second year in a row it has won the 'Outsourcing Deal of the Year' award from FSO Knowledge Xchange. BNY Mellon was recognized for its partnership with Rainier Investment Management in providing accounting, performance measurement, account opening and reconciliation, and client reporting and billing services.
FSO Knowledge Xchange (FSOkx), a global media and research organization, announced the winners of its 2011 Excellence Awards at its fifth annual summit event in New York. Each year FSO's research team and panel of judges conducts an extensive quantitative and qualitative analysis of nominations using a proprietary methodology that looks at uniqueness of the solution, interoperability, services covered, client benefits, geographic reach, revenue impact, process improvement, level of transparency, and other criteria.
"Our partnership with BNY Mellon has given us a real advantage in terms of how we allocate our people and functional resources," said Melodie Zakaluk, chief operations officer of Rainier Investment Management. "Over the last year, we've been able to dedicate more employees to servicing our clients and continually enhancing the client experience, which is extremely important to us."
"BNY Mellon displays true partnership with its clients, a theme we heard throughout our conference," said Rekha Vatsa, chief executive officer of FSO Knowledge Xchange. "Its clients consider it not only a partner, but also an extension of their own organization."
"We're seeing significant growth in the outsourcing business, because it makes sense for investment firms to focus on managing assets and client relationships and allow service providers to administer their back-office and make the technology commitment," said Lou Maiuri, BNY Mellon Asset Servicing's global head of outsourcing. "This award is a validation of the success we've had in partnering with investment managers like Rainier and our position as an industry leader."
Rainier Investment Management, Inc. is an employee-owned investment firm dedicated to enhancing client returns through insightful and disciplined identification of growth companies. Independently owned since 1991, Rainier remains a boutique firm focused on providing high-value-added U.S. equity and fixed income portfolio management. Headquartered in Seattle and with an office in New York City, Rainier manages $18.1 billion in assets as of June 30, 2010, including separate accounts and the Rainier Funds.
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 $26.3 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com and through Twitter @bnymellon.