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September 20, 2019updated 26 Sep 2019 10:22am

BNY Mellon, Bloomberg form strategic partnership

American investment manager BNY Mellon has tapped Bloomberg to allow access to its data and analytical workflow tools through Bloomberg AIM.

The partnership combines Bloomberg’s portfolio management, trading and compliance solution with the asset manager’s data, analytics, and servicing functions.

Bloomberg global head of enterprise products Ben Macdonald said: “Partnering with leading technology and servicing providers like BNY Mellon allows us to streamline and enrich critical investment workflows to help our clients reduce operational complexity and scale their businesses.”

The tie-up is aimed at supporting quicker onboarding, better data exchanges, along with higher straight-through processing rates.

Clients in the traditional asset management, hedge fund, and asset owner sectors can avail the benefits.

BNY Mellon CEO of global asset servicing Hani Kablawi said: “We believe clients will continue to want choice and flexibility of their operating models, and we are committed to partnering with industry-leading providers like Bloomberg as a core element of our open platform strategy.

“As two of the industry’s leading investment technology and servicing providers, BNY Mellon and Bloomberg mutually serve many of the world’s foremost investment firms, and we see enormous opportunity to help our common clients transform their operating models and enable more informed and timely decision-making.”

This April, BNY Mellon collaborated with BlackRock to offer integrated data, technology, and asset management servicing capabilities to common clients.

Earlier this year, BNY Mellon launched a range of reporting tools to enable institutional investors to evaluate their ESG performance.

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