BNY Mellon has signed an agreement with Nomura Asset Management Deutschland to offer fund administration and middle office services to Nomura’s German domiciled funds managing nearly EUR2bn in assets.
As part of the agreement, BNY, through its affiliate BNY Mellon Service Kapitalanlage-Gesellschaft, will deliver a range of fund administration services to Nomura such as fund accounting, regulatory reporting and risk controlling.
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In the second half of 2016, it also plans to offer front office solutions and additional services including collateral management.
Nomura Asset Management Deutschland chief administration officer Magnus Fielko said: "BNY Mellon stood out because of its ability to provide a customised package and holistic front-to-back office service.
"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."
The latest agreement expands Nomura’s existing relationship with BNY Mellon in Germany, which provides depotbank and EMIR regulatory reporting services to Nomura Asset Management Deutschland.
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By GlobalDataBNY Mellon head of asset servicing business in Germany Thomas Brand said: "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."
