Tuesday, February 19, 2008
Old Mutual Capital Awards Back-Office Mandate
News summary by MFWire's editors
Old Mutual Capital
has hired BNY Mellon Asset Servicing
to provide fund administration, accounting services and some ancillary services. BNY Mellon now also serves as the sole custodian for Old Mutual's line of mutual funds. Denver-based Old Mutual has upwards of $5 billion in AUM in its mutual funds.
| Julian Sluyters |
Old Mutual Capital
President and COO
"The Bank of New York Mellon was a known entity to us, as they are a reputable industry leader," said Julian Sluyters
, president and chief operating officer of Old Mutual Capital.
Old Mutual's former fund administrator was SEI. Old Mutual previously had three custodians. Besides Bank of New York, Union Bank of California and U.S. Bank provided custody services.
Company Press Release
NEW YORK, Feb. 19 /PRNewswire-FirstCall/ -- BNY Mellon Asset Servicing, the global leader in asset servicing, has been selected by Old Mutual Capital as global custodian for its mutual fund business, which manages more than $5 billion in assets. In addition, BNY Mellon Asset Servicing will provide fund administration, accounting services and some ancillary services.
"The Bank of New York Mellon was a known entity to us, as they are a reputable industry leader," said Julian Sluyters, president and chief operating officer, Old Mutual Capital, Inc. "We are a very focused organization and are intent on providing the highest level of service to our shareholders, and the consistent quality of asset servicing is a critical element in helping us do so."
"Old Mutual Capital will benefit from our flexible reporting options, ability to deliver a suite of integrated products, and responsive service," said Joseph Keenan, managing director, BNY Mellon US Asset Services. "This appointment demonstrates our dedication to meeting the unique requirements of each asset manager, regardless of fund structure."
Denver-based Old Mutual Capital, Inc. (OMCAP) is an investment advisory firm that serves as Advisor to the Old Mutual Funds and Old Mutual Funds II. OMCAP operates the full service mutual fund and managed account platform of Old Mutual Asset Management, the U.S. asset management group of Old Mutual plc (London Stock Exchange: OML). Old Mutual Capital, Inc. together with its wholly-owned subsidiary, Old Mutual Investment Partners, offer unique and timely investment solutions including asset allocation funds, sub-advised mutual funds, and separately managed accounts. All are managed by institutional asset managers either affiliated with or in a partnership with Old Mutual Asset Management. More information on Old Mutual Capital, Inc. and its products and strategies is available from the firm's website at www.oldmutualcapital.com.
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies.
The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $20 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt. Additional information is available at bnymellon.com.
Armie Margaret Lee
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