BNY Mellon gets Haspa special funds mandate 01 November 2011Frankfurt Reporter: Anna Reitman
Image: Shutterstock
BNY Mellon has been appointed by Hamburger Sparkasse (Haspa) to provide technical services related to investment limit reviews in the German bank's depository business.
BNY Mellon's specialised asset servicing business will provide administration for special fund assets valued at approximately €1.4 billion and daily support to Haspa to ensure its mandates comply with statutory and contractual investment limits on each valuation date.
Thomas Grünewald, managing director of BNY Mellon Service KAG, said, “There are a number of ways in which depotbanks can meet the additional regulatory requirements that have recently been imposed and one compelling option is to outsource individual processes and services to a specialist institution.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 