BNY Mellon Asset Servicing, a global securities servicing provider, and Wilshire Associates Incorporated, a global investment technology, financial services and consulting firm, announced that they have extended their strategic alliance.
The Bank of New York (BNY) formed a strategic alliance with Wilshire in 2004, before the merger with Mellon Financial Corporation in July 2007.
The new and expanded agreement extends the client base to include clients of both legacy BNY and Mellon businesses.
Taken together, BNY Mellon Asset Servicing and Wilshire Associates provide global risk services to more than 2,550 institutional investor clients that manage more than $22.1 trillion in assets.
“Our relationship with Wilshire has been an outstanding success and we are delighted to extend our alliance so that all our clients can reap the benefits,” says Gerald L. Hassell, president of The Bank of New York Mellon. “Wilshire’s advanced attribution and analytics offerings provide the perfect complement to our powerful performance measurement and analytical capabilities, enabling us to offer a more compelling and holistic solution to global institutional clients.”
“The Bank of New York Mellon and Wilshire share a commitment to and passion for exceeding our clients’ expectations and providing cutting edge tools to serve the rapidly changing needs of the global investment community,” says Dennis A. Tito, chairman and chief executive officer of Wilshire Associates. “We are excited about the future and look forward to continuing our association with BNY Mellon as we raise the bar and provide clients worldwide with a premier suite of risk and performance attribution services.”
“Now, more than ever, our clients are looking to us to provide advanced attribution methodologies, intuitive risk management tools, and extended reporting capabilities,” Debra A. Baker, managing director, global product management – performance & risk analytics at BNY Mellon asset servicing. “Our alliance with Wilshire will assist in empowering us to continue to meet the client demand for advanced risk management services across the regions and across multiple market segments.”