Alternative fund services unit also wins CustodyRisk magazine award for 'Most Innovative Project of the Year'
LONDON, May 8, 2013 — BNY Mellon, the global leader in investment management and investment services, has been named 'Best administrator over $30bn - single manager' for the second year running at the HFMWeek European Hedge Fund Services Awards, presented in London on April 25.
BNY Mellon was one of six industry-leading companies to be nominated for the honour as part of the 2013 awards, which recognise firms that have outperformed their peer group over the last 12 months. Companies are judged both quantitatively and qualitatively, based on financial progress, growth, and innovation across a number of areas.
BNY Mellon won the award for its commitment to excellence in client service, which has driven sustained growth of its hedge fund administration business. HFMWeek is an international publication for the hedge fund community, read by over 7,000 alternative fund managers – predominantly COOs and managing partners – and their advisers worldwide.
"In a crowded and competitive space, BNY Mellon consistently distinguishes itself with technologically proficient, high-touch and innovative service. This was underscored by the judges, who said that BNY Mellon is always astute in determining and meeting client needs," said Tony Griffiths, editor, HFM Week.
BNY Mellon also won the Custody Risk 2013 Americas Award for 'Most Innovative Project of the Year.' Last year, the company became the first alternative investment fund administrator in the industry to streamline the post-trade cash settlement process by automating money movements for its hedge funds, fund of funds, and private equity clients around the globe.
"These two awards reflect our relentless focus on outstanding service and market-leading technology to support our clients," said Marina Lewin, global head of sales for BNY Mellon's alternative investment services business. "With AIFMD implementation fast approaching, we've been working closely with clients to ensure they're prepared for the operational and regulatory challenges it entails. The strength of our full service offering is a big reason why we continue to grow our alternative assets under administration."
BNY Mellon is a leading administrator of alternative assets, including single manager hedge funds, funds of hedge funds, and private equity, with more than $575 billion of alternative assets under administration and custody and an extensive global presence. BNY Mellon also offers a wide range of cash management, foreign exchange, collateral management, corporate trust, and wealth management services to the alternative investment industry.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or administration and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on http://www.bnymellon.com/ or follow us on Twitter @BNYMellon.
This press release is issued by The Bank of New York Mellon to members of the financial press and media. All information and figures source BNY Mellon unless otherwise stated as at December 31, 2012. The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818. Branch office: One Canada Square, London E14 5AL. Supervised and regulated by the New York State Department of Financial Services and the Federal Reserve. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority.
Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.