Could Deutsche AWM’s outsourcing deal with BNY Mellon be the tipping point for third-party real estate administration to flourish? Michael Luciano, chief operating officer for Deutsche AWM’s Alternatives & Real Assets business, shares his perspective.
In February, Deutsche Bank’s Deutsche Asset & Wealth Management (Deutsche AWM) unit finalized an agreement to outsource the asset servicing of over $46 billion in real estate and private equity funds industry to BNY Mellon. The deal, which also includes Deutsche AWM transferring approximately 80 employees to BNY Mellon, represents a new trend in the real estate and infrastructure fund industry to outsource servicing operations, similar to the way hedge funds have outsourced more and more non-investment-related activities in recent years.
Learn more by downloading Outsourcing Gets Real.
Source: Global Custodian Spring Issue, 2015