The French bank secured two valuable deals in the second quarter from AXA Belgium and French fund manager Eurazeo.
Tag: asset servicing
Portney most recently led the client management, sales and service teams for BNY Mellon asset servicing globally, and also oversaw the Americas region of the business.
The Boston-based global custodian reported increases in servicing fee revenue and assets under custody, driven by higher client activity and net new business.
BNY Mellon is aiming to accelerate its digital plans for all of its asset servicing business, which it sees could help it win new clients.
The bank stated the year-on-year increase for the asset servicing business reflected higher foreign exchange and other trading revenues.
Asset managers may consider in-sourcing some client-facing functions as a result of their disappointment in their service provider's digital capabilities.
The mandate will cover C4 Ventures’ new fund, C4 Ventures II, which is expected to reach €80 million in assets under management by the end of the year.
CEOs of asset servicing firms explained that the pandemic has sparked new attitudes towards business processes and technology.
The hire is the latest appointment for BNY Mellon’s new-look asset servicing team, which has made a number of key changes to the business’s leadership this year.