Logan Circle Partners Selects BNY Mellon Asset Servicing to Provide Back-Office Support
July 18 2007 - 7:37AM
PR Newswire (US)
PITTSBURGH, July 18 /PRNewswire-FirstCall/ -- BNY Mellon Asset
Servicing announced that it will administer the back office,
including trade processing, bank loan processing, investment
accounting, reconciliations and performance measurement, for Logan
Circle Partners, a Philadelphia-based investment group that focuses
on fixed income strategies for institutional investors. BNY Mellon
Asset Servicing also will provide client statements and billing to
clients of Logan Circle, which formed earlier this year. "We
continue to build our business of providing back-office support for
start-up asset managers, many of which have grown into substantial
businesses," said Vince Sands, executive vice president of BNY
Mellon Asset Servicing. "Savvy start-ups such as Logan Circle are
concentrating their efforts on investment strategies and other
front-office activities and relying on our asset servicing
expertise for their back-end operations." "The merger of The Bank
of New York and Mellon Financial has created an asset servicing
group with the breadth, technology and top-notch client service
that we require to support our own rapidly growing business," said
Michael Bishof, chief operating officer and chief financial officer
of Logan Circle Partners. Logan Circle Partners is a privately held
asset management firm focused exclusively on institutional
investment management services. Logan Circle Partners will offer
separate accounts to clients in each of the following fixed-income
disciplines, as well as limited partnerships for selected
strategies: limited term, enhanced mortgage, intermediate, extended
duration, core, global, core plus, emerging markets, high yield,
inflation protected bond and corporate. BNY Mellon Asset Servicing
offers clients worldwide a broad spectrum of specialized asset
servicing capabilities, including custody and fund services,
securities lending, performance and analytics, and execution
services. With more than $18 trillion in assets under custody and
administration, the group holds strong market leadership positions
across all major business lines. The Bank of New York Mellon
Corporation is a global financial services company focused on
helping clients move and manage their financial assets, operating
in 37 countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions,
corporations and high-net-worth individuals, providing superior
asset and wealth management, asset servicing, issuer services, and
treasury services through a worldwide client-focused team. It has
more than $18 trillion in assets under custody and administration
and $1 trillion in assets under management, and it services more
than $11 trillion in outstanding debt. Additional information is
available at http://www.bnymellon.com/. DATASOURCE: Bank of New
York Mellon Corporation CONTACT: Mike Dunn of Bank of New York
Mellon Corporation, +1-212-922-7859, Web site:
http://www.bnymellon.com/
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