LONDON, June 23, 2011 /PRNewswire/ -- BNY Mellon Asset Servicing, the global leader in investment servicing, has been appointed by Barclays Wealth Funds Limited to provide transfer agency and fund accounting services to UK-domiciled assets valued at 4 billion pounds Sterling (US$6.4 billion).
The new mandate builds on BNY Mellon's existing long-standing relationship with the client, and increases total Barclays Wealth fund assets under custody and administration by BNY Mellon to 17bn pounds.
The addition of these assets to Barclays Wealth Funds Limited as the Authorised Corporate Director and Unit Trust Manager also demonstrates Barclays' ongoing commitment to building its presence in the UK investment market.
David Dalton-Brown, Head of Barclays Wealth Funds, said: "I am very pleased to have this opportunity to extend our valued and business critical partnership with BNY Mellon. BNY Mellon's growing support for our business has allowed Barclays to establish itself as one of the leading multi-domicile fund companies in the market. Our relationship with BNY Mellon is a very important one – we have already successfully worked closely with BNY Mellon in a number of key business areas, including the recent successful launch of our new online Execution Only investment platform. BNY Mellon was integral in ensuring this time sensitive project was delivered as planned, together with the required high quality of multi-channel customer service."
Frank Froud, Head of EMEA at BNY Mellon Asset Servicing, said: "Our ability to address Barclays' evolving needs and our deep strategic understanding of their business goals has been the basis of our robust and successful partnership. We are delighted to have this opportunity to further expand and strengthen the valued relationship between our two organisations."
Notes to editors:
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.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 The Bank of New York Mellon unless otherwise stated as at March 31, 2011.
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
Authorised and regulated in the UK by the Financial Services Authority
SOURCE BNY Mellon