This outsourcing arrangement will include trade processing, securities clearance and settlements, valuation, client billing, client statements, cash management support services and performance and analytics measurement through Russell/Mellon Analytical Services, LLC for Stephens Inc, which manages assets for institutional and Stephens Private Client Group customers.
"By using Mellon's scaleable technology platform for our back- office needs, we expect to grow our business in a cost-efficient manner," Zoe Hines, executive vice president of Stephens Inc., said.
According Steve Papulak, business development manager for Mellon's investment manager solutions group, expanding their outsourcing business is a key growth area for Mellon.
"Our investments in technology are enabling us to provide increasing capabilities and enhanced services to our clients," he said.
