The agreement provides OIG clients with access to BNY Mellon's global network, its international custody and capital markets services, and its global technology resources—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."
John Legrand, head of asset servicing business development in Asia Pacific for BNY Mellon, added: "This alliance creates a competitive alternative in the Australian custody market.”
"We continue to expand our presence in the region and offer fund managers unparalleled access to global investment services expertise and technology."