BNY and Nomura in $2bn German fund service deal

BNY Mellon will provide full fund administration services to Nomura’s German domiciled funds.
By Paul Walsh

BNY Mellon has signed an agreement with Nomura Asset Management Deutschland to provide fund administration to their German domiciled funds with around €2bn in assets under administration.

As part of the arrangement, BNY will provide full fund administration and middle office services including fund accounting, regulatory reporting and risk controlling.

Further front office developments will be added later in the year.

“BNY Mellon stood out because of its ability to provide a customised package and holistic front-to-back office service,” said Magnus Fielko, chief administration officer of Nomura Asset Management Deutschland.

“Our strategic relationship with BNY Mellon allows us to focus on our core business of asset management, while ensuring that our clients benefit from the scale and breadth of a leading global investment services company.”

The deal expands Nomura’s existing relationship with BNY in Germany with the latter providing depotbank and EMIR regulatory reporting services to Nomura Asset Management Deutschland.

“We look forward to developing our existing relationship with Nomura Asset Management Deutschland,” said Thomas Brand, head of BNY Mellon’s asset servicing business in Germany.

“The increased regulatory emphasis on transparency, accountability and consumer protection is encouraging more asset managers such as Nomura to ask for front-to-back office services.”