BNY Mellon widens Wisconsin mandate
The State of Wisconsin Investment Board, SWIB, has picked
BNY Mellon to provide a suite of middle office services to its $105bn worth of assets.
Portfolio accounting, trade support, corporate actions,
collateral management, pricing, performance measurement and derivatives
processing will be offered by the bank.
BNY Mellon has provided custody, data management, cash
management and securities lending to SWIB since 1991.
Eagle Investment Systems, a BNY Mellon affiliate, will support SWIB's investment and data management needs via the bank’s OnCoreSM platform.
"This new system supports SWIB's innovative investment
approach and our data management requirements," said Michael Williamson,
executive director of SWIB.
"The conversion to BNY Mellon's investment book of
record allows us to deliver a high level of data quality for our investment
teams," Williamson added.
"By providing the needed infrastructure, BNY Mellon is
supporting asset owners who are making the shift toward in-house investment
management," said Chandresh Iyer, global head of middle office solutions
at BNY Mellon.
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