BNY Mellon has secured a mandate to provide fund administration and middle office services to Nomura Asset Management’s German domiciled funds.

The custody bank will service around €2bn in assets as part of the deal, providing fund accounting, regulatory reporting and risk controlling via its affiliate BNY Mellon Service KAG. 

Further front office solutions and additional services such as collateral management are expected to be added in the second half of this year.

“BNY Mellon stood out because of its ability to provide a customised package and holistic front-to-back office service,” said Magnus Fielko, chief administration officer of Nomura Asset Management Deutschland.

Nomura Asset Management is already a BNY Mellon client. In Germany, bank also provides depotbank services and EMIR regulatory reporting services to the asset manager.

“We look forward to developing our existing relationship with Nomura Asset Management Deutschland,” added Thomas Brand, head of BNY Mellon’s asset servicing business in Germany.

“The increased regulatory emphasis on transparency, accountability and consumer protection is encouraging more asset managers such as Nomura to ask for front-to-back office services. 

"We have invested significantly in technology to handle multiple evolving processes at greater volume and speed as well as lower cost, so we are well positioned to benefit from this trend.”