BNY Mellon will provide outsourced accounting and data management solutions to a range of discretionary mandates managed by Allianz Global Investors.
The mandates will be serviced by BNY Mellon Service Kapitalanlage-Gesellschaft mbH.
Michael Hartmann, head of operations Europe at Allianz Global Investors, said: “Given the harmonisation of processes and efficiency gains, the cooperation with BNY Mellon is an important step towards a target operating model. In an international company like Allianz Global Investors, it is even more important to install cross-departmental systems and processes that can be used globally.”
Thomas Brand, head of investment services at BNY Mellon in Germany added: “Our relationship with Allianz Global Investors has been a long and fruitful one, and as one of their largest custodians and depotbanks here in Germany we welcome this opportunity to further strengthen that valued partnership through the provision of these additional services.”
