BNY Mellon, a global leader in investment management and investment services and One Investment Group (OIG), a leading independent service provider to Australian funds management businesses, announced today that they have entered into an agreement to offer global custody services to Australian fund managers, trustees and responsible entities.
This agreement provides OIG clients with access to BNY Mellon's global network, its international custody and capital markets services, and its world leading technology—providing Australian investment managers the ability to deploy a global investment strategy and access to a complete and competitively priced global custody solution.
Justin Epstein, Executive Director of OIG stated, "We enjoy a close relationship with BNY Mellon and share a common philosophy on the global custody business. Separately, we each have a business model of providing end-to-end administration and trust services to funds management and corporate trust clients, so forming a global custody relationship makes perfect sense. Together we can create a competitive advantage that combines OIG's Australian leadership position and local decision making with the international market access, global scale and industry best practise capabilities of BNY Mellon."
"This alliance creates a competitive alternative in the Australian custody market," said John Legrand, head of asset servicing business development in Asia-Pacific for BNY Mellon. "We continue to expand our presence in the region and offer fund managers unparalleled access to global investment services expertise and technology."
OIG is an Australian based independent funds management business providing responsible entity, trustee, custody services, corporate trust, fund administration and registry services to in excess of 250 funds with assets of $17 billion and is the only responsible entity/trustee in the Australian market able to offer a full outsourced solution to fund managers.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2017, BNY Mellon had $30.6 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).