Russell/Mellon to open Amsterdam office
NETHERLANDS – Institutional information provider Russell/Mellon says it is to open an office in Amsterdam on October 11.
The office will be headed by former Watson Wyatt and Mercer consultant Dolf Hoecks, said David Harris, director of European business development for Russell/Mellon. Hoecks would also support Mellon’s custody venture with ABN Amro in the Netherlands.
The move is part of a broader European expansion plan that will encompass Germany, Italy and Switzerland, Harris told IPE. The Nordic region was also a key market. The focus would be on “key products, key markets”.
Meanwhile, State Street has announced that all of its performance measurement and evaluation services throughout Europe are being “aligned” under the WM Performance Services brand.
“This move aligns State Street’s existing performance measurement services in Europe with the skills and expertise of WM, one of the world’s leading investment performance evaluation businesses,” the Boston-based bank said. WM become part of the firm when State Street bought Deutsche Bank’s Global Investor Services arm.
Russell/Mellon provides performance measurement, attribution, and investment analysis services to more than 3,100 institutional investors.
In April this year the European arm of the firm – a joint venture between Russell Investment Group and Mellon Financial Corp. – dropped the venerable CAPS (Combined Actuarial Performance Services) from its name.