Also wins 'Acquisition of the Year' for Global Investment Servicing deal last year
NEW YORK, April 27, 2011 — BNY Mellon announced that its Alternative Investment Services (AIS) group has received the 'Hedge Fund Operations - Best Outsourcing Initiative' award from FTF News, an online publication focused on securities trading and operations. BNY Mellon received the honor as part of the FTF News Technology Innovation Awards 2011, recognizing IT and service providers and thought leaders for outstanding achievement.
Awards were announced on April 14 to industry-leading companies across 15 categories. BNY Mellon also won for 'Acquisition of the Year' for its purchase of PNC's Global Investment Servicing (GIS) business last July. The FTF News editorial team oversaw award nominations and selected the finalists. Nominations were made by industry participants who subscribe to FTF News, who then voted online to determine the winners. More than 3,800 votes were cast.
"Our editorial team put a lot of careful thought and effort into considering nominations and into the final voting processes," said FTF founder Maureen Lowe. "By setting an example, the nominees and winners are moving the industry forward and paving the way for a better future."
"We're proud that FTF News and the industry have acknowledged our company-wide dedication to innovation," said Brian Ruane, BNY Mellon AIS chief executive officer. "Across all areas of alternatives servicing, we're helping clients meet their evolving needs as they respond to changing regulations and greater investor demands for transparency. We'll continue to enhance our products and services through the hard work of our global teams."
"With the addition of GIS's extensive capabilities, we're helping financial institutions raise and retain assets, boost efficiency, and better manage risk," said Nadine Chakar, head of BNY Mellon Asset Servicing's Global Financial Institutions group. "The acquisition reflects our strategy to broaden and deepen our product set, add scale, and enhance our leadership position supporting fund managers and financial advisors worldwide across multiple business lines."
Focused on trends and initiatives in securities trading and operations, FTF News offers its readers original editorial content, daily news, in-depth analysis and industry research. For more, visit ftfnews.com.
BNY Mellon Alternative Investment Services is a leading servicer of single manager hedge funds, funds of hedge funds, and private equity assets, with more than $390 billion in assets under administration. It operates globally in Bermuda, the Cayman Islands, Guernsey, Hong Kong, Ireland, Japan, Luxembourg, Poland, Singapore and the U.K., plus six U.S. states. BNY Mellon's wide range of offerings to the alternatives industry also include cash and collateral management, foreign exchange, operational outsourcing, trust and custody, and wealth management services.
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 $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 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. Learn more at www.bnymellon.com.