BNY Mellon appointed by Aon Hewitt as fund administrator for GBP4 billion of UK fiduciary management assets
LONDON, Feb. 6, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Aon Hewitt to provide full fund administration services across the two Irish-domiciled fund ranges with assets totalling almost £4 billion that are the asset platform of its Delegated Consulting Services.
The new mandate will also see BNY Mellon providing performance & risk analytics, securities lending and portfolio hedging to Aon Hewitt, which provides fiduciary management services to UK pension schemes.
George Mortimer, UK Chief Operating Officer for Delegated Consulting Services at Aon Hewitt, said: "We were looking for an innovative solution to optimise our Irish fund structure, in a way that leveraged to the benefit of all our clients the $45bn of delegated assets we have globally. BNY Mellon's commitment to designing and implementing the right solution for us was a key factor in our decision."
Hani Kablawi, EMEA Head of Asset Servicing at BNY Mellon, said: "Our ability to take a fresh and innovative approach to providing a solution that can support Aon Hewitt's growth plans across the region was key to their decision to select BNY Mellon. This new mandate will see us providing Aon Hewitt with a broad range of flexible solutions and services and we look forward to further developing our relationship with them."
Notes to editors:
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of December 31, 2013, BNY Mellon had $27.6 trillion in assets under custody and/or administration and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.
Aon Hewitt empowers organisations and individuals to secure a better future through innovative talent, retirement and health solutions. We advise, design and execute a wide range of solutions that enable clients to cultivate talent to drive organisational and personal performance and growth, navigate risk while providing new levels of financial security, and redefine health solutions for greater choice, affordability and wellness. Aon Hewitt is the global leader in human resource solutions, with over 30,000 professionals in 90 countries serving more than 20,000 clients worldwide. For more information on Aon Hewitt, please visit www.aonhewitt.com.
This press release is issued by The Bank of New York Mellon to members of the financial press and media. All information and figures source BNY Mellon unless otherwise stated as at December 31, 2013. The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818. Branch office: One Canada Square, London E14 5AL. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the Federal Reserve and authorised by the Prudential Regulation Authority. The Bank of New York Mellon London branch is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
SOURCE The Bank of New York Mellon Corporation