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BNY Mellon wins huge Bridgewater outsourcing deal

BNY Mellon, the global leader in investment management and investment services, has been selected by Bridgewater Associates to provide middle- and back...

Freddie Pierce
|Nov 15|magazine7 min read

BNY Mellon, the global leader in investment management and investment services, has been selected by Bridgewater Associates to provide middle- and back-office outsourcing services for approximately $125 billion in assets. BNY Mellon will support Bridgewater's strategy of delivering diversified alpha and beta strategies for clients via its dedicated outsourcing platform - BNY Mellon OnCore(SM).

Services will include a fully integrated data warehouse, plus trade processing, portfolio accounting and derivatives processing.

 “Bridgewater is extending its partnership with BNY Mellon to continue to provide world-class, operationally excellent middle- and back-office services and to access the scale and breadth of technology services that BNY Mellon can offer Bridgewater clients,” said Eileen Murray, Co-Chief Executive Officer of Bridgewater.  

“This comprehensive solution will enable Bridgewater to maintain and differentiate our leading edge back office capabilities in terms of flexibility and service quality to meet the needs of the coming decade and to enable more robust capabilities as our alpha and beta strategies evolve.”

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BNY Mellon has been delivering various services including custody, fund accounting and fund administration to Bridgewater funds since 1994. As a result of the new middle and back-office arrangement, approximately 100 Bridgewater software experts, business analysts, accountants and other employees based in Westport, CT, will join BNY Mellon and become part of its asset servicing organization.

“Our OnCore platform is a best-of-breed technology specifically designed for investment managers,” said Tim Keaney, CEO of BNY Mellon Asset Servicing.  

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. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.

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Edited by Kevin Scarpati