BNY Mellon Asset Servicing and Germany-based BHF Asset Servicing have agreed the terms of a new partnership.
The co-operation partners have agreed to pool a number of supplementary services in order to enhance their existing product portfolio, enabling them to continue to offer their respective clients global reach allied with local expertise, said BNY Mellon Asset Servicing.
The key products that both companies are now able to provide include transition management, commission recapture and futures clearing. Global custody and subcustody business are two other areas where BNY Mellon and BHF Asset Servicing are further intensifying their already close co-operation, said BNY Mellon Asset Servicing. In the depotbank arena, the two companies will operate independently going forward.
Tim Keaney, co-CEO of BNY Mellon Asset Servicing, said: Our two companies have worked together in a highly successful alliance for more than three years, and I am delighted that we will continue that co-operation to support our German clients and ensure they can capitalise to the fullest extent upon new opportunities as they arise.
Wolfgang Danicke, managing director of BHF Asset Servicing, said: We intend to further enhance the traditionally good co-operation between our two companies. The competencies and expertise each bank brings to the partnership ideally complement each other. This ensures that we are optimally positioned to tailor our products and services to our high net worth clients’ individual requirements.
