BNY Mellon, a global leader in investment management and investment services, has extended its relationship with Raymond James & Associates, Inc. to provide subaccounting services for more than $140 billion in assets and 6.4 million active investor positions.
BNY Mellon has been providing subaccounting services to Raymond James since 2009 and also provides custody, credit and treasury services to the company.
"Our continued investment in innovative technology to support our subaccounting platform and our focus on client service has been reflected by the extension of this important relationship with Raymond James," said Michael DeNofrio, global head of BNY Mellon's transfer agency business. "The growing distribution of investment products through intermediaries and increasing complexity of these products continues to drive the growth of subaccounting services."
"Over the last five years BNY Mellon has collaborated with us to help us achieve our goals and we are looking forward to continuing the relationship," stated Denise Samson, Senior Vice President, Operations, at Raymond James. "The quality service and support we receive from BNY Mellon makes us consider them a true partner."
BNY Mellon is the largest third-party provider of subaccounting services in the U.S., as ranked by the 2015 Mutual Fund Service Guide. This is the fifth year BNY Mellon has achieved this ranking. BNY Mellon provides subaccounting services to more than 130 million active positions with more than $2.6 trillion in assets.
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.