is broadening its relationship with Brown Brothers Harriman
. BBH, which has served as custodian, will also handle fund accounting for the Boston-based mutual fund firm.
Appoximately half of Pioneer's 41-person fund accounting group will be offered similar jobs at BBH, confirmed Pioneer spokesman Geoff Smith.
"Pioneer's remaining fund accounting team will stay intact at Pioneer to focus on fund administration and oversight," he wrote in an e-mailed statement to The MFWire.com
The transition to BBH started in June and is expected to be completed by the end of the first quarter of next year.
"The transition is cost-effective for Pioneer's funds and is a positive step for Pioneer and its mutual fund shareholders," Smith wrote.
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