ABN AMRO Mellon wins E7.9bn Newton custody deal
UK – Newton Fund Managers, the UK asset management subsidiary of Mellon Financial Corp., has appointed ABN AMRO Mellon Global Securities Services as custodian for its exempt and private investment management fund ranges.
The transfer of assets accounts for approximately 5.5 billion pounds (7.9 billion euros) across 60 different markets. The transition involved the work of several teams across Mellon, including Mellon Global Investments, Mellon European Fund Services and Newton.
Simon Wombwell, director of Newton Fund Managers, said: “ABN AMRO Mellon’s streamlined technology platform and high service standards were a key factor in our decision to appoint them. We are confident that this high level of service will benefit our clients.”
Previously JPMorgan Chase was custodian. In addition to core custody, ABN AMRO Mellon will provide securities lending services to Newton.
ABN AMRO Mellon has over 250 billion euros in assets under custody. ABN AMRO Mellon was founded on the capital commitment from two equal shareholders, ABN AMRO Bank N.V. and Mellon Financial Corporation.