Before the ink dries on the sale of Philadelphia-based Delaware Investments – an affiliate of Lincoln Financial – to Australian owner Macquarie Group, the asset management firm chose BNY Mellon Asset Servicing on Thursday to provide back-office support.

The partnership calls for New York City-based BNY Mellon to handle all of the accounting, administration, and other back-office services for Delaware Investments' U.S. and Dublin-based mutual funds, institutional separate accounts, and other products.

According to a BNY press release, the firm intends to utilize its Eagle Star and Eagle Pace technology to fulfill its new back-office duties. Eagle Investment Systems, a subsidiary of BNY Mellon, specializes in financial services technology and services for data management, investment accounting, and performance measurement.

“Turning to BNY Mellon Asset Servicing to perform these important functions reduces our overall risk profile and makes our costs more predictable,” stated Phil Russo, executive vice president and chief administrative officer of Delaware Investments. “BNY Mellon's solid reputation in outsourcing, as well as the enhanced functionality and efficiencies we derive from the Eagle platform will enable us to deliver even greater value to our clients.”

“For nearly a decade we've built a strong relationship with Delaware Investments, and this new mandate takes us to the next level,” stated Lou Maiuri, global head of outsourcing for BNY Mellon Asset Servicing. “Especially in today's environment it makes sense for many investment firms to focus more on managing assets and client relationships – the things they do best – while relying on service providers like us to administer the back-office and maintain the technology investment.”

In August 2009, it was announced that Australian bank Macquarie Group would acquire Delaware Investments in a $428 million cash deal set to close on or around December 31, 2009. Delaware Investments, which had approximately $135 billion assets under management as of September 30, 2009, is currently owned by Lincoln Financial.

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Company Press Release

BNY Mellon Asset Servicing Announces Strategic Mandate with Delaware Investments

Extends long-term relationship with new investment accounting, performance and risk analytics, and back-office services utilizing BNY Mellon's Eagle technology platform

BOSTON, Dec. 17 //PRNewswire-FirstCall// -- BNY Mellon Asset Servicing, the global leader in asset servicing, has announced it is providing back-office services for Delaware Investments, a Philadelphia-based diversified asset management firm.

BNY Mellon is utilizing its Eagle STAR® and Eagle PACE(TM) technology to provide accounting, administration, and certain back-office services in support of all of Delaware Investments' U.S.- and Dublin-domiciled mutual funds, institutional separate accounts, and other products.

"Turning to BNY Mellon Asset Servicing to perform these important functions reduces our overall risk profile and makes our costs more predictable," said Phil Russo, executive vice president and chief administrative officer of Delaware Investments. "BNY Mellon's solid reputation in outsourcing, as well as the enhanced functionality and efficiencies we derive from the Eagle platform will enable us to deliver even greater value to our clients."

"For nearly a decade we've built a strong relationship with Delaware Investments, and this new mandate takes us to the next level," said Lou Maiuri, global head of outsourcing for BNY Mellon Asset Servicing. "Especially in today's environment it makes sense for many investment firms to focus more on managing assets and client relationships - the things they do best - while relying on service providers like us to administer the back-office and maintain the technology investment."

Delaware Investments, an affiliate of Lincoln Financial Group, is a Philadelphia-based diversified asset management firm with more than $135 billion in assets under management as of September 30, 2009. Through a broad range of managed accounts and portfolios, mutual funds, retirement accounts, sub-advised funds and other investment products, Delaware Investments provides investment services to individual investors and to institutional investors such as private and public pension funds, foundations, and endowment funds.

Eagle Investment Systems LLC, a subsidiary of BNY Mellon, is a global provider of financial services technology. Eagle provides leading-edge technology and services for data management, investment accounting and performance measurement. Eagle's product suite is offered as an installed application or can be hosted via Eagle ACCESS(SM), Eagle's ASP offering.

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE:BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.1 trillion in assets under custody and administration and $966 billion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Learn more at bnymellon.com.

 

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