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Rating:Pioneer's Outsourcing Deal Will Move Some Employees to its Vendor Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, July 01, 2011

Pioneer's Outsourcing Deal Will Move Some Employees to its Vendor

Reported by Armie Margaret Lee

Pioneer Investments 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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