NEW YORK, November 1, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation (“BNY”) (NYSE: BK), a global financial services company, today announced the successful completion of its acquisition of Archer Holdco, LLC (“Archer”), a leading technology-enabled service provider of managed account solutions to the asset and wealth management industry. The definitive agreement to acquire Archer was announced on September 5, 2024.
Managed accounts are among the fastest growing investment vehicles in the industry. Archer provides asset and wealth managers with comprehensive middle- and back-office solutions to address the needs of institutional, private wealth and retail investors.
Archer’s clients will be able to access fully integrated solutions across the entire managed account lifecycle leveraging the broader capabilities of the BNY enterprise. The transaction uniquely positions BNY as the leading service provider to support asset managers across all fund wrappers for their institutional and retail investor base.
“We are pleased to announce the successful closing of the Archer transaction and are thrilled to welcome Bryan Dori and the talented Archer team to BNY,” said Emily Portney, Global Head of Asset Servicing at BNY.
| Media Garrett Marquis +1 949 683 1503 garrett.marquis@bny.com |
Analysts Marius Merz +1 212 298 1480 marius.merz@bny.com |
About BNY
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of September 30, 2024, BNY oversees $52.1 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY employs over 50,000 people globally and has been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.
About Archer
Archer is a technology-enabled service provider that helps investment managers deliver solutions aligned with investor needs. With Archer, investment managers can maintain their proven investment process while outsourcing operations and technology to benefit from a service model geared for growth. Archer has expansive connectivity across the industry and deep experience working with asset managers to help them swiftly streamline operations, enter new distribution channels, and launch new products.
Important information
This Press Release is issued by BNY to members of the press and media and the information contained herein should not be construed as investment advice or a recommendation of any investment strategy or product. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized.
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