Doing well in Dublin
04 November 2010 Dublin
Image: Shutterstock
BNY Mellon, has maintained its position as the number one fund administrator in Ireland with assets under administration totalling US$270.4 billion across 498 funds according to Lipper's 2010 Ireland Fund Encyclopaedia. The annual report by Lipper, the Thomson Reuters research company, reveals that for combined Irish domiciled and non-Irish domiciled funds, BNY Mellon has an 18.75% market share by asset value.
Lipper's Ireland Fund Encyclopaedia provides the only comprehensive analysis of service providers for all funds serviced in Ireland. Lipper's market share rankings are based upon 30 June 2010 data. BNY Mellon recently acquired PNC Global Investment Servicing. According to Lipper, if this merger had taken place by 30 June, the total assets under administration for the new entity would have been US$344.3 billion with a market share of 23.8%.
This is the third year in which BNY Mellon has participated in the survey and the third year in succession the company has been named number one in Ireland.
"This #1 ranking underlines client confidence in BNY Mellon and our unwavering focus on service excellence and product innovation here in Ireland," said Ross Whitehill, Head of Offshore Management, BNY Mellon Asset Servicing.
"Looking to 2011, the global regulatory metamorphosis will continue, transforming the funds industry and the support managers subsequently need from their administrators. It has never been more important than today to know your market positions, values, counterparties and exposures. We are making strong investments to ensure our clients continue to have access to the most sophisticated risk analytical, measurement and reporting tools they need to address the new regulatory regime."
"We believe Ireland will continue to play a very strong role in the European funds industry. As investors continue to demand transparency, greater control and more robust governance frameworks for their alternative investments, managers are increasingly turning to strongly regulated fund centres like Ireland to launch new funds," added Brian Ruane, Chief Executive Officer of BNY Mellon's Alternative Investment Services business. "We will continue to invest in Ireland, as evidenced by our recent PNC acquisition, and to rely on its highly skilled and dedicated workforce, of which we employ more than 1,700 traditional and hedge fund experts across the country."
BNY Mellon opened its first office in Ireland in 1994 and received approval from the Irish Financial Regulator to establish a new bank licensed entity in Ireland in 2009. The company currently employs over 1,700 employees in Ireland, located in Cork, Wexford, Navan, and Dublin and offers a broad range of services to traditional and alternative asset managers, banks, pension funds and insurance companies including asset servicing, corporate trust, depositary receipts and treasury services.
Lipper's Ireland Fund Encyclopaedia provides the only comprehensive analysis of service providers for all funds serviced in Ireland. Lipper's market share rankings are based upon 30 June 2010 data. BNY Mellon recently acquired PNC Global Investment Servicing. According to Lipper, if this merger had taken place by 30 June, the total assets under administration for the new entity would have been US$344.3 billion with a market share of 23.8%.
This is the third year in which BNY Mellon has participated in the survey and the third year in succession the company has been named number one in Ireland.
"This #1 ranking underlines client confidence in BNY Mellon and our unwavering focus on service excellence and product innovation here in Ireland," said Ross Whitehill, Head of Offshore Management, BNY Mellon Asset Servicing.
"Looking to 2011, the global regulatory metamorphosis will continue, transforming the funds industry and the support managers subsequently need from their administrators. It has never been more important than today to know your market positions, values, counterparties and exposures. We are making strong investments to ensure our clients continue to have access to the most sophisticated risk analytical, measurement and reporting tools they need to address the new regulatory regime."
"We believe Ireland will continue to play a very strong role in the European funds industry. As investors continue to demand transparency, greater control and more robust governance frameworks for their alternative investments, managers are increasingly turning to strongly regulated fund centres like Ireland to launch new funds," added Brian Ruane, Chief Executive Officer of BNY Mellon's Alternative Investment Services business. "We will continue to invest in Ireland, as evidenced by our recent PNC acquisition, and to rely on its highly skilled and dedicated workforce, of which we employ more than 1,700 traditional and hedge fund experts across the country."
BNY Mellon opened its first office in Ireland in 1994 and received approval from the Irish Financial Regulator to establish a new bank licensed entity in Ireland in 2009. The company currently employs over 1,700 employees in Ireland, located in Cork, Wexford, Navan, and Dublin and offers a broad range of services to traditional and alternative asset managers, banks, pension funds and insurance companies including asset servicing, corporate trust, depositary receipts and treasury services.
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