Old Mutual Investment Partners has signed a deal handing the majority of its separately managed accounts operations' back- and middle-office operations to Mellon Global Securities Services, a subsidiary of Mellon. Previously, Old Mutual relied on a number of different outsourcing partners to serve the back offices of its various divisions. Mellon manages $675 million through its investment subsidiaries and collectively administers and custodies at least $3.6 trillion.
"We were impressed with Mellon's experience, scalable infrastructure and commitment to the separately managed account space," said Kevin Hunt, executive vice president and head of sales, marketing and product development for Old Mutual Asset Management.
Copyright 2004 Thomson Media Inc. All Rights Reserved.