BNY Mellon has extended its agreement with Raymond James & Associates, a financial services holding company, to provide subaccounting services for over $140 billion in assets and 6.4 million active investor positions.
BNY Mellon has supplied subaccounting services to Raymond James since 2009.
Their current relationship also involves the provision of credit, treasury and custody services.
“The growing distribution of investment products through intermediaries and increasing complexity of these products continues to drive the growth of subaccounting services,” says Michael DeNofrio, global head of BNY Mellon’s transfer agency business.
“Our continued investment in innovative technology to support our subaccounting platform and our focus on client service has been reflected by the extension of this important relationship with Raymond James,” he adds.