Opalesque Industry Update - The Bank of New York Mellon Corporation and BlackRock, through its BlackRock Solutions business, announced today a strategic alliance to deliver integrated data, technology, and asset management servicing capabilities to common clients. These new capabilities integrate BNY Mellon's data insights, accounting, and servicing tools into Aladdin®, BlackRock's investment and operating platform for investment managers. This collaboration builds on a multi-year effort by BlackRock Solutions and BNY Mellon to transform the investment manager operating model. These joint efforts, demonstrated through years of BNY Mellon servicing BlackRock, have already helped to increase transparency at multiple stages of the investment lifecycle, accelerate information delivery, and synchronize the data that supports core functions for asset managers. BlackRock and BNY Mellon will now offer the joint capabilities to common clients, bringing significant and immediate benefits to front office, technology, and operations teams, including:
"We are thrilled to partner with BNY Mellon to help clients more closely couple data and further optimize their operating models, driving more efficiency," said Rob Goldstein, BlackRock's Chief Operating Officer and Head of BlackRock Solutions. "The combination of Aladdin's capabilities with BNY Mellon's data and tools will further enable our common clients to access their investment management and servicing capabilities on one platform. Both firms have already demonstrated the value of enhanced technology and servicing integration over the years. We are excited to formalize this track record of successful collaboration and extend these benefits to the broader Aladdin Community." |
Industry Updates
BNY Mellon and BlackRock partner on client service tech
Wednesday, April 03, 2019
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