Mellon Financial Corp. has announced that its investment manager solutions group will administer the back-office for Stephens Investment Management Group, which manages assets for institutional and Stephens private-client-group customers.
The outsourcing arrangement will include trade processing, securities clearance and settlements, valuation, client billing, client statements, cash management support services, and performance and analytics measurement through Russell/Mellon Analytical Services LLC.
Mellon's asset servicing group specializes in developing tools to support the entire investment process for public and private pension funds, endowments and foundations, asset managers, mutual funds, insurers, and other financial institutions.
The Pittsburgh banking company has more than $4 trillion of assets under management, administration, or custody, including $729 billion under management.
