BNY Mellon Asset Servicing
has eliminated about 25
jobs in the wake of its purchase of PNC Global Investment Servicing
. The cuts do not impact the U.S. fund services lines of business, BNY Mellon spokesman Rob Tacey told The MFWire.com
"Some areas of overlap have emerged since the acquisition closed, resulting in some job losses," Tacey said. "However, there have been no job losses within the U.S. fund services lines of business related to the acquisition."
The U.S. fund services lines of business include fund accounting and administration, transfer agency and subaccounting, exchange-traded fund, closed-end fund and unit investment trust services.
BNY Mellon's $2.31 billion purchase of PNC GIS closed in July.
Armie Margaret Lee
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