Bank Of New York Mellon To Acquire Archer Holdco - Quick Facts

(RTTNews) - The Bank of New York Mellon Corporation (BK) announced it has entered into a definitive agreement to acquire Archer Holdco, LLC, a technology-enabled service provider of managed account solutions to the asset and wealth management industry. Financial terms were not disclosed. The company said the financial impact of the transaction is not expected to be material to earnings and its outlook for capital returns.

The company said, with the integration of Archer's managed account solutions, capabilities and professional servicing team, BNY will enhance enterprise platform to support retail managed accounts.