BNY Mellon Asset Servicing, a unit of Bank of New York Mellon Corp., has signed a five-year extension of its outsourcing agreement with TCW Group Inc., a Los Angeles asset management firm.
The asset servicing unit is to continue supporting all of TCW's back- and middle-office investment operations, it said Thursday, including trade processing, bank loan processing, investment accounting, partnership accounting, performance, attribution, analytics, financial statements, client billing, and client statements. The unit has provided these services to TCW since 2001.
TCW, which was founded in 1971, develops and manages value-added investment products. It had $160 billion of assets under management at June 30. It is a subsidiary of Societe Generale Asset Management, which has $500 billion under management.
BNY Mellon Asset Servicing offers clients specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services.
The parent company is a global financial services holding company operating in 37 countries and serving more than 100 markets. It had more than $20 trillion of assets under custody and administration and more than $1 trillion under management at June 30.
