BNY Mellon seals the deal with Thomas Miller 30 October 2012London Reporter: Jenna Jones
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Thomas Miller Investment (TMI) has signed a ten-year administration and custody outsourcing agreement with BNY Mellon.
BNY Mellon’s asset servicing group will be responsible for TMI’s institutional business, whilst BNY Mellon company, Pershing will take charge of TMI’s private investment management business.
TMI’s agreement with BNY Mellon will cover both the onshore and offshore requirements of the firm.
Mike Balfour, chief executive at Thomas Miller Investment, said: "Thomas Miller Investment is investing to provide a first class service for all our clients and as such we undertook a thorough review of our administrative capability. By outsourcing these functions we will be able to focus on our areas of knowledge and expertise, which lie within investment management. We are now in a position where the business can grow steadily, and as this happens this deal will allow us to expand our offering by making available our services to larger companies."
Daron Pearce, head of global financial institutions, EMEA at BNY Mellon, said: "This long-term partnership with Thomas Miller Investment will see us provide an array of key services into their front and middle offices. Our robust and scalable OnCore middle office solution will enable TMI to focus on investment performance and growing their business.”
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