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Brown Brothers Harriman to administer USD155bn in OppenheimerFunds assets

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Brown Brothers Harriman has agreed to provide fund accounting, financial reporting, fund compliance, tax support and technology solutions for OppenheimerFunds, covering over USD155bn in assets across more than 350 domestic and offshore investment vehicles. 

BBH is establishing a servicing centre in Centennial, Colorado, where OppenheimerFunds’ back-office operations are located and has hired nearly 200 former OppenheimerFunds employees, primarily focusing on 40-Act mutual fund middle office, fund accounting and administration. 

BBH has provided OppenheimerFunds with global custody, cash management, foreign exchange and other securities services since 2007.
 
“We are thrilled to be expanding our relationship with OppenheimerFunds. This strategic arrangement represents an important investment for BBH in servicing capacity in both the 40-Act mutual fund and middle office spaces. The mountain time zone further enhances our 24 hour global service model with an exceptionally deep and talented staff,” says Bill Tyree (pictured), partner and global head of investor services for Brown Brothers Harriman. “We believe the two firms are an unusually good fit, sharing the highest standards for quality, people and cultures. By integrating the best aspects of both operations, we position OppenheimerFunds and BBH for continued robust growth.”
 
“The combination of BBH’s industry leading accounting system and Infomediary technology allows OppenheimerFunds to leverage a platform positioned for future growth,” says Darren Walsh, executive vice president of OppenheimerFunds. “We consider BBH a truly valuable strategic partner who has demonstrated that their interests are well aligned with ours. We are very pleased to be expanding and deepening our relationship through this arrangement.”

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