Barclays Bank has appointed Mellon European Fund Services, the investment administration arm of Mellon Financial Corporation in Europe, to provide fund dealing services across the Barclays Group. The new dealing service aims to enable Barclays’s fund distributors and their customers to deal in and track their investments in a wide range of funds.
Mellon will provide a fund platform for Barclays branches and the bank’s IFA networks , which include Barclays Independent Financial Planning and Sedgwick Independent Financial Consultants. As part of the contract, Mellon is also supplying dealing services to existing unit trust investors of Woolwich Unit Trust Managers and OEIC investors of Barclays Global Investors
Barclays will continue to use L&G as their preferred supplier of tied mass market, life, pension and simple investment products.
“Mellon is very excited to be teaming up with Barclays on such an extensive agreement,” says Richard Godfrey, Managing Director of Mellon European Fund Services. “This partnership demonstrates , yet again, Mellon’s commitment to the UK fund services market and further endorses the quality of our market-leading service.”