BNY Mellon appointed by Aon Hewitt as fund administrator for GBP4bn assets
BNY Mellon has been appointed by Aon Hewitt to provide full fund administration services across two Irish-domiciled fund ranges with assets totalling almost GBP4bn.
The mandate applies to the asset platform of its Aon Hewitt’s delegated consulting services business and will also see BNY Mellon providing performance and risk analytics, securities lending and portfolio hedging to Aon Hewitt, which provides fiduciary management services to UK pension schemes.
George Mortimer, UK chief operating officer for delegated consulting services at Aon Hewitt, says: “We were looking for an innovative solution to optimise our Irish fund structure, in a way that leveraged to the benefit of all our clients the USD45bn of delegated assets we have globally. BNY Mellon’s commitment to designing and implementing the right solution for us was a key factor in our decision.”
Hani Kablawi, EMEA head of asset servicing at BNY Mellon, says: “Our ability to take a fresh and innovative approach to providing a solution that can support Aon Hewitt’s growth plans across the region was key to their decision to select BNY Mellon. This new mandate will see us providing Aon Hewitt with a broad range of flexible solutions and services and we look forward to further developing our relationship with them.”
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