Mellon Financial announced on Monday that it will provide back-office services for Stephens Investment Management Group, a division of Stephens Inc.

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.

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