BNY Mellon seals outsourcing deal with Bridgewater
15 November 2011 New York
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Bridgewater Associates has selected BNY Mellon to provide middle and back office outsourcing services in support of Bridgewater's diversified alpha and beta strategies. Services will include a fully integrated data warehouse, plus trade processing, portfolio accounting, and derivatives processing.
“Our OnCore platform is a best-of-breed technology specifically designed for investment managers,” said Tim Keaney, CEO of BNY Mellon Asset Servicing. “Today we are announcing a comprehensive solution that meets Bridgewater’s business requirements while also providing the required level of transparency, scalability and security.”
BNY Mellon has been delivering various services including custody, fund accounting and fund administration to Bridgewater funds since 1994. As a result of the new middle and back office arrangement, approximately 100 Bridgewater software experts, business analysts, accountants and other employees based in Westport, CT, will join BNY Mellon and become part of its asset servicing organisation.
“Our OnCore platform is a best-of-breed technology specifically designed for investment managers,” said Tim Keaney, CEO of BNY Mellon Asset Servicing. “Today we are announcing a comprehensive solution that meets Bridgewater’s business requirements while also providing the required level of transparency, scalability and security.”
BNY Mellon has been delivering various services including custody, fund accounting and fund administration to Bridgewater funds since 1994. As a result of the new middle and back office arrangement, approximately 100 Bridgewater software experts, business analysts, accountants and other employees based in Westport, CT, will join BNY Mellon and become part of its asset servicing organisation.
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