Nomura Asset Management Deutschland KAG mbH (Nomura Asset Management Deutschland) has asked BNY Mellon to provide it with fund administration and middle office services to its German funds.
BNY Mellon will initially provide the full suite of fund administration services to Nomura Asset Management Deutschland including fund accounting, regulatory reporting and risk controlling via its affiliate BNY Mellon Service Kapitalanlage-Gesellschaft mbH (BNY Mellon Service KAG). Further front office solutions and additional services such as collateral management are scheduled to be added in the second half of this year.
Nomura Asset Management is an existing client of BNY Mellon, which also provides depot bank services and EMIR regulatory reporting services.
“BNY Mellon stood out because of its ability to provide a customised package and holistic front-to-back office service,” said Magnus Fielko, chief administration officer of Nomura Asset Management Deutschland. “Our strategic relationship allows us to focus on our core business of asset management, while ensuring that our clients benefit from the scale and breadth of a leading global investment services company.”
“We look forward to developing our existing relationship,” said Thomas Brand, head of BNY Mellon’s Asset Servicing business in Germany. “The increased regulatory emphasis on transparency, accountability and consumer protection is encouraging more asset managers such as Nomura to ask for front-to-back office services. We have invested significantly in technology to handle multiple evolving processes at greater volume and speed as well as lower cost, so are well positioned to benefit from this trend.”