BBH to lend securities for three US managers
US- BBH Securities Lending, the securities lending arm of US global custodian Brown Brothers Harriman, is providing lending services to three US asset management companies: Pioneer Investment Management, based in Boston; ING Pilgrim Group, based in Scottsdale, Arizona; and Nicholas Applegate Capital, based in San Diego, California. All three currently use BBH’s custody services.
BBH set up set up BBH Securities Lending in 1989 to provide small-cap US equity and international equity lending services to US and international financial institutions. Last year BBH expanded its operations to Europe when it set up a securities lending operation in its London office.
Christine Donovan, managing director of global securities lending at BBH said BBH would continue to cross-sell securities lending services customers. “In addition to expanding our programme internationally and independent of BBH’s custody offering we will continue to develop new client relationships by offering integrated solutions to existing BBH custody clients.”