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Impact Investing

IPE special report May 2018

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BNY Securities boosts European pension offering

EUROPE – The Bank of New York has expanded the services of the BNY Securities Group to offer a “full suite” of products for investment managers and pension funds in Europe.

Global transition management, which has been serviced by a dedicated team in Europe for six months, will be added to other services under one umbrella in the BNY Securities Group.

The other services to be offered will be: commission recapture, which allows funds to enhance performance and reduce fund expenses; commission management service through Westminster Research Associates; and independent equity research consultancy services through BNY Jaywalk.

The transition management services include trading analysis, execution, performance measurement and risk management for global, multi-asset class portfolios. “This service provides pension funds with a single resource for managing and executing new portfolio strategies, which is ideal for those seeking an experienced team when changing investment managers,” says the bank.

Timothy Keaney, executive vice president and head of Europe at the Bank of New York, said, “As we grow our business in Europe, we have seen an increased demand for sophisticated trading products and the need for conflict-free solutions for the investment community, such as agency brokerage and independent research.

“Also, control of commission spending and investment management performance pressures have led to greater use of commission recapture and transition management programs.

“BNY Securities Group’s expansion of its European institutional product offerings meets the evolving challenges faced by investment managers and pension funds.”

Joseph Velli, senior executive vice president and head of BNY Securities Group, said that is “a natural development for the Bank of New York to expand the services offered in Europe” as the “formula has worked well in the US”.

A spokesman for the bank said the expansion of the agency brokerage product would mean “a full suite of services is to be offered to investment managers and pension funds in Europe”.

The BNY Securities Group is an organisation consisting of several broker-dealers and other companies.

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