FRANKFURT, Germany and LONDON, July 18, 2016 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has signed an agreement with Nomura Asset Management Deutschland KAG1 mbH (Nomura Asset Management Deutschland) to provide fund administration and middle office services to their German domiciled funds with around €2 billion in assets under administration2.
BNY Mellon will initially provide the full suite of fund administration services to Nomura Asset Management Deutschland including fund accounting, regulatory reporting and risk controlling via its affiliate BNY Mellon Service Kapitalanlage-Gesellschaft mbH (BNY Mellon Service KAG). Further front office solutions and additional services such as collateral management are scheduled to be added in the second half of this year.
"BNY Mellon stood out because of its ability to provide a customised package and holistic front-to-back office service," said Magnus Fielko, Chief Administration Officer of Nomura Asset Management Deutschland. "Our strategic relationship with BNY Mellon allows us to focus on our core business of asset management, while ensuring that our clients benefit from the scale and breadth of a leading global investment services company."
Nomura Asset Management is an existing client of BNY Mellon. In Germany, BNY Mellon also provides depotbank services and EMIR regulatory reporting services to Nomura Asset Management Deutschland which is a dedicated investment management operation of Nomura Asset Management.
"We look forward to developing our existing relationship with Nomura Asset Management Deutschland," said Thomas Brand, Head of BNY Mellon's Asset Servicing business in Germany. "The increased regulatory emphasis on transparency, accountability and consumer protection is encouraging more asset managers such as Nomura to ask for front-to-back office services. We have invested significantly in technology to handle multiple evolving processes at greater volume and speed as well as lower cost, so are well positioned to benefit from this trend."
BNY Mellon Service KAG has shown steady growth in recent years by securing new outsourcing mandates across the traditional securities business and also in the real estate space.
Notes to editors:
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safekeeping assets and enhancing the administration of client investments through services that process, monitor and measure data from around the world, allowing clients to focus on the management of their investments. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.
In Germany, BNY Mellon is one of the leading investment services companies. Germany is one of BNY Mellon's five core growth markets throughout the world. BNY Mellon has been continuously expanding its business ever since its German business started back in 1931 and now has approximately 450 employees in Frankfurt.
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 35 countries and more than 100 markets. As of March 31, 2016, BNY Mellon had $29.1 trillion in assets under custody and/or administration, and $1.6 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). Learn more at http://www.bnymellon.com/. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
Nomura Asset Management
The Nomura Asset Management is a leading global investment manager. Headquartered in Tokyo, Nomura Asset Management has additional investment offices throughout the world including London, Singapore, Malaysia, Hong Kong, Shanghai, Taipei, Frankfurt and New York. With a global workforce of over 1,200 employees it has been operating in Europe for the past 30 years.
Nomura Asset Management Deutschland has been managing individual funds for institutional investors and retail funds since 1988. It has established its reputation in the German-speaking market as a specialist in Asian equities and fixed income. Today, Nomura Asset Management Deutschland provides its clients with a wide range of innovative investment strategies including global, regional and single country equities, high yield bonds and global fixed income. This agreement represents Nomura Asset Management Deutschland's first outsourcing agreement for fund accounting services in Germany.
1A KAG, also referred to as a KVG, is a German regulated capital management company.
2Gross asset value as of 09.06.2016. Source: Nomura Asset Management Deutschland KAG mbH.
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 March 31, 2016.
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. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the Federal Reserve and authorised by the Prudential Regulation Authority.
The Bank of New York Mellon London branch is 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.
SOURCE BNY Mellon