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BNY Mellon wins Nordic mandate
20 March 2013
The bank will provide fund administration for SEB Investment Management
SEB Investment Management has chosen BNY Mellon to provide fund administration services for its €40bn of funds domiciled in Sweden, Luxembourg and Finland.
BNY Mellon will also provide transfer agency services for the Luxembourg-domiciled funds.
According to Peter Branner, CEO of SEB Investment Management, the move will enable it to grow its funds range.
“BNY Mellon is able to offer us a solution that breaks new ground in the Nordic region, providing a platform for us to grow our funds range and to continue to innovate in the asset management space. Enhanced efficiency and reduced risk were our key priorities, and we were also looking for a partner who could support our growing ambitions around broadening our distribution capabilities across the region.”
Hani Kablawi, head of Europe, Middle East & Africa for asset servicing at BNY Mellon, said: “We will be delivering a highly integrated solution to SEB across a diverse range of funds, which include some of the most complex in the marketplace today. Accordingly, this new and valued partnership with SEB is very much a landmark deal, for both BNY Mellon ourselves and the wider Northern European fund administration business, in terms of the scope of the assets involved and the sophisticated servicing capabilities we will be providing to SEB.”