The investment arm of Mellon Financial Corp. won the mandate to handle all of the back office services for Evercore Asset Management (EAM), a New York-based institutional investment management firm that invests in small- and mid-capitalization value equities.
Among the services that Mellon will provide are transaction processing, custodian reconciliation, performance measurement and analytics, and investor reporting.
“We continue to see significant opportunities in our asset servicing business, which has achieved double digit growth in revenues in each of the last two years,” said Jack Klinck, Mellon vice chairman and president of its IMS group. “We believe that EAM will benefit from our extensive experience in helping firms launch asset management operations.”