BNY Mellon Asset Servicing and BHF Asset Servicing in Co-operation Agreement
BNY Mellon Asset Servicing and BHF Asset Servicing, from Germany, have agreed the terms of a partnership, effective 1 March 2009.
The co–operation partners have agreed to pool a number of supplementary services in order to enhance their existing product portfolio, enabling them to continue to offer their respective clients global reach allied with local expertise.
The products that both companies are now able to provide include transition management, commission recapture and futures clearing. Global custody and subcustody business are two other areas where BNY Mellon and BHF Asset Servicing are further intensifying their already close co–operation. In the depotbank arena, the two companies will operate independently going forward.