BNY Mellon is to provide fund administration and middle office services to Nomura Asset Management Deutschland’s German domiciled funds with around EUR2 billion in assets under administration.
BNY Mellon will initially provide the full suite of fund administration services to Nomura Asset Management Deutschland including fund accounting, regulatory reporting and risk controlling via its affiliate BNY Mellon Service KAG.
Further front office solutions and additional services such as collateral management are scheduled to be added in the second half of this year.
“BNY Mellon stood out because of its ability to provide a customised package and holistic front-to-back office service,” says Magnus Fielko, chief administration officer of Nomura Asset Management Deutschland. “Our strategic relationship with BNY Mellon allows us to focus on our core business of asset management, while ensuring that our clients benefit from the scale and breadth of a leading global investment services company.”
Nomura Asset Management is an existing client of BNY Mellon. In Germany, BNY Mellon also provides depotbank services and EMIR regulatory reporting services to Nomura Asset Management Deutschland, which is a dedicated investment management operation of Nomura Asset Management.
“We look forward to developing our existing relationship with Nomura Asset Management Deutschland,” says Thomas Brand, head of BNY Mellon’s asset servicing business in Germany. “The increased regulatory emphasis on transparency, accountability and consumer protection is encouraging more asset managers such as Nomura to ask for front-to-back office services. We have invested significantly in technology to handle multiple evolving processes at greater volume and speed as well as lower cost, so are well positioned to benefit from this trend.”
BNY Mellon Service KAG has shown steady growth in recent years by securing new outsourcing mandates across the traditional securities business and also in the real estate space.
