BNY Mellon has been picked by Goldman Sachs Asset Management to provide asset services for its newly-launched European UCITS exchange-traded funds (ETFs).
As part of the deal, BNY Mellon will also provide fund accounting, transfer agency, depository, custody, paying agent and common depository.
Goldman Sachs Asset Management launched its first ETF fund into the European market on 26 September.
It selected the International Central Securities Depository (ICSD) model for its new Irish UCITS fund.
Peter Thompson, head of Goldman Sachs Asset Management’s European ETF business, said: “Goldman Sachs Asset Management ETFs will be smart, simple and accessible. The suite of products we plan to launch in the coming months will enable our clients to build diversified global portfolios using a mix of active and passive investment styles. We are pleased to be working with BNY Mellon for ETF servicing on this product range.”
Robert Rushe, head of ETF services for EMEA at BNY Mellon, added: “Our appointment bears testament to the quality of our ETF-specific technology, our scale and our team of ETFs experts. It also underscores our commitment to growing our ETF business in markets around the world.”
