The Bank of New York has been appointed by Aon Asset Management Limited to provide custody, fund administration, securities lending, and transfer agency services for $1.5 billion of assets. In addition, BNY Brokerage will provide Aon Asset Management Limited with commission recapture services.
“The Bank of New York’s expertise and commitment to the servicing of offshore funds was critical to our decision in selecting it as our custodian and fund administrator,” says George Mortimer, chief operating officer of Aon Asset Management Limited. “We have enjoyed a strong working relationship with them in the past, and look forward to continuing to work with them as a trusted custodian.”
Louis DiFranco, head of the global insurance division at The Bank of New York, says the mandate “demonstrates our ability to offer multiple integrated and related products to insurance industry clients and their various asset management units. We have a longstanding relationship with Aon, and this selection reaffirms their confidence in our client service and leading technology. We look forward to delivering high-quality service and working closely with Aon Asset Management as it implements its strategic plan for growth in assets under management.”
Aon Asset Management is a UK-incorporated company launched in 2002 as a multi-manager asset management business providing investment solutions to institutional clients via its own fund range and via third party distributors (such as banks and insurance companies) through white-labeling or investment advisory relationships.