09.08.2007 12:47:00
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BNY Mellon Asset Servicing Announces Five-Year Outsourcing Contract Extension With The TCW Group, Inc.
LOS ANGELES, Aug. 9 /PRNewswire-FirstCall/ -- BNY Mellon Asset Servicing, the global leader in asset servicing, announced that it has signed a five-year extension to its outsourcing agreement with The TCW Group, Inc., an asset management firm based in Los Angeles.
Through the new agreement, BNY Mellon Asset Servicing will continue to support all of TCW's back and middle office investment operations, including trade processing, bank loan processing, investment accounting, partnership accounting, performance, attribution, analytics, financial statements, client billing and client statements. BNY Mellon Asset Servicing has been an outsourcing provider to TCW since 2001.
"We look forward to continuing our partnership with BNY Mellon Asset Servicing," said TCW President William Sonneborn. "Their commitment to ever- improving technology and services goes a long way toward helping TCW accomplish its business objectives."
"More and more investment firms are turning to outsourcing providers as a cost-effective strategy. BNY Mellon Asset Servicing's technology and breadth of expertise enables these firms to focus on their core business of managing assets," said Vince Sands, executive vice president of BNY Mellon Asset Servicing "We're pleased that TCW has decided to renew its relationship with us, and we look forward to meeting their needs both now and well into the future."
Founded in 1971, TCW develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients' wealth. The firm has approximately $160 billion in assets under management. TCW clients include many of the nation's largest corporate and public pension plans, financial institutions, endowments and foundations, as well as a substantial number of foreign investors and high net worth individuals. TCW is a subsidiary of Societe Generale Asset Management, which has approximately $500 billion in total assets under management.
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies.
The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and move their financial assets, operating in 37 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services and treasury services through a worldwide client-focused team. It has more than $20 trillion in assets under custody and administration and more than $1 trillion in assets under management. Additional information is available at http://www.bnymellon.com/.
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