Allianz Global Investors has appointed BNY Mellon to provide outsourced accounting and data management solutions to a range of discretionary mandates.
The mandates will be serviced by BNY Mellon Service Kapitalanlage-Gesellschaft. Allianz Global Investors manages some 300 billion in retail funds, special funds and discretionary mandates. The discretionary mandates comprise international portfolios that include both securities and derivatives.
Michael Hartmann, head of Operations Europe at Allianz Global Investors, said: Given the harmonization of processes and efficiency gains, the cooperation with BNY Mellon is an important step towards a target operating model. In an international company like Allianz Global Investors, it is even more important to install cross-departmental systems and processes that can be used globally.
(JDC)