BNY Mellon feels the green as new administrator for Coutts
Latest news
BNY Mellon feels the green as new administrator for Coutts 31 January 2013London Reporter: Georgina Lavers
Image: Shutterstock
BNY Mellon is the new fund administrator for Coutts’ new Irish-domiciled UCITS funds range, Coutts multi asset funds.
BNY Mellon will provide a full suite of services to the Irish fund range, including derivative execution, KIID production, daily performance reporting and share class hedging.
“This range of funds plays a vital role in the evolution of our wealth management capabilities and provides a transparent, cost-effective, RDR-compliant investment solution. We sought an industry leader that truly understands our business and can provide bespoke solutions which meet our needs.” said Leslie Gent, managing director, Investment Office at Coutts.
“Regulatory change poses both opportunities and challenges in equal measure for the European funds industry in 2013,” said Daron Pearce, EMEA head of Global Financial Institutions, Asset Servicing at BNY Mellon. “Complying with AIFMD and the new UCITS rules changes will be a complex and multi-faceted task for managers, large and small. All of which is likely to involve a great deal of time and expense to execute for those who carry out their middle and back office functions in-house.”
Pearce added: “As a service provider, we believe we are intrinsic to asset managers in helping them to developing products to meet the opportunities of the new market environment. We look forward to strengthening our partnership with the team at Coutts as they develop their client offering and distribution strategy.”
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 