BNY Mellon has secured a mandate to deliver transfer agency services for the global investment manager Charles Schwab Investment Management.
Charles Schwab says it picked BNY Mellon based on its long-term commitment to the transfer agency business, as well as its experience delivering a leading client service model, technology platform and operational services.
BNY Mellon’s OMNISM platform will also bring direct servicing benefits to Charles Schwab Investment Management.
Steve Farlese, head of investor solutions products at BNY Mellon, comments: “We are very pleased to be able to provide Charles Schwab Investment Management with the ability to help reduce the complexity and costs associated with servicing its clients’ assets.”
“This is another major step for BNY Mellon in continuing to provide an aligned operational structure that provides direct servicing benefits, streamlines access to investment information and improves efficiencies for our clients and their distribution partners.”
Mark Fischer, chief financial officer of Charles Schwab Investment Management, adds: "We are eager to work with the BNY Mellon team and have been impressed by its service model, solutions, deep industry experience and the strategic vision they bring to investor solutions.”
Earlier this week, BNY Mellon introduced Chinese bonds as eligible collateral on its triparty platform through Hong Kong’s Bond Connect to enable investors to utilise their Chinese fixed income assets.
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