BNY Mellon Asset Management has selected a data management platform by financial information services company Markit.
The $1.5 trillion-asset manager will use the Markit Enterprise Data Management platform to create a master data set for analytics and support the data management needs of its subsidiaries, according to a Tuesday press release.
"Organizations on the buy and sell side recognize the need for an enterprise-wide platform to take control of their data and break down silos," Daniel Simpson, managing director and head of enterprise software at Markit, said in the release. "BNY Mellon is doing just this by taking a top-down approach to managing its data across the firm and its multiple global subsidiaries. The implementation will enable the investment manager to have complete confidence in the data used across the business."