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A-Team Insight Blogs

BNY Mellon Agrees $125 Billion Outsourcing Mandate with Bridgewater Associates

BNY Mellon, the global leader in investment management and investment services, has been selected by Bridgewater Associates to provide middle- and back-office outsourcing services for approximately $125 billion of assets. BNY Mellon will support Bridgewater’s strategy of delivering diversified alpha and beta strategies for clients via its dedicated outsourcing platform – BNY Mellon OnCoresm. Services will include a fully integrated data warehouse, plus trade processing, portfolio accounting, and derivatives processing.

“Bridgewater is extending its partnership with BNY Mellon to continue to provide world-class, operationally excellent middle- and back-office services and to access the scale and breadth of technology services that BNY Mellon can offer Bridgewater clients,” said Eileen Murray, Co-Chief Executive Officer of Bridgewater. “This comprehensive solution will enable Bridgewater to maintain and differentiate our leading edge back office capabilities in terms of flexibility and service quality to meet the needs of the coming decade and to enable more robust capabilities as our alpha and beta strategies evolve.”

BNY Mellon has been delivering various services including custody, fund accounting and fund administration to Bridgewater funds since 1994.  As a result of the new middle and back office arrangement, approximately 100 Bridgewater software experts, business analysts, accountants and other employees based in Westport, CT, will join BNY Mellon and become part of its asset servicing organization.

“Our OnCore platform is a best-of-breed technology specifically designed for investment managers,” said Tim Keaney, CEO of BNY Mellon Asset Servicing. “Today we are announcing a comprehensive solution that meets Bridgewater’s business requirements while also providing the required level of transparency, scalability and security.”

“This is a great opportunity to expand our collaboration with Bridgewater, and demonstrates the power of our outsourcing proposition for their needs,” said Nadine Chakar, executive vice president and head of global financial institutions at BNY Mellon Asset Servicing. “The solutions we are offering for Bridgewater’s clients through the middle and back office will provide a state-of-the-art support platform that is simple, robust, easily customized and global.”

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 Asset Servicing provides services through BNY Mellon and other related companies.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day.

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