The Bank of New York announced today that it has been appointed by Skandia MultiManager Funds to provide administration, accounting and transfer agency services.
This is BNY’s second major mandate announcement in almost as many months – following the Barclays Global Investors mandate announced in March.
The Bank of New York through its European Fund Services Group is supporting Skandia’s MultiManager Funds using its proprietary RUFUS transfer agency platform, which supports U.K. and European fund administration services. BNY EFS also recently entered into a partnership (February) with Microsoft to create its next generation pan-Euro TA platform.
Jim Roberts, investment director, Skandia, said:
“After an intensive review, we chose The Bank of New York as our preferred service provider to work with us on developing our collective investment scheme. We are very impressed with the strength of The Bank of New York’s system and process control as well as their approach to European fund administration. We look forward to working with them.”
Nick Parkes, managing director, The Bank of New York European Fund Services, commenting on the appointment said:
“I am delighted that Skandia has chosen The Bank of New York, and we look forward to a long and mutually beneficial relationship.
This and other recent appointments such as BGI and AXA confirms that The Bank of New York is the provider of choice for Europe’s premier money managers.”
Tony Child, head of The Bank of New York’s European Insurance Sector, added:
“Skandia’s choice validates our sector specialist approach to client relationships and also our leadership position in meeting the unique needs of the insurance sector.”