Standish, the Boston-based fixed income investment boutique for BNY Mellon, has launched a bundled solution for U.S. insurance companies that includes asset management, global custody, and insurance accounting and reporting.
Custody, insurance accounting and reporting are being provided by BNY Mellon’s asset servicing business. The new comprehensive offering meets the needs of insurance companies that require asset management and asset servicing to be bundled.
“Developing synergies between our investment management and investment services businesses enables us to meet the unique needs of the insurance segment, while also demonstrating the power BNY Mellon brings to bear across the investment lifecycle,” said Christine Todd, president of Standish and head of its insurance and tax-sensitive groups. “This is our initial offering of investment management and investment servicing as a single solution.”
The new offering enables BNY Mellon to provide investment management and investment services to a broader range of insurance companies, according to Vince Pacilio, executive vice president, BNY Mellon, and head of the insurance segment.
“We’re seeing more insurance companies looking for bundled solutions as they would rather partner with providers that offer a holistic and more comprehensive set of services,” Pacilio added.
Standish Mellon Asset Management Company LLC, with approximately $162 billion of assets under management, provides investment management services across a broad spectrum of fixed income asset classes. These include corporate credit, emerging markets debt (dollar-denominated and local currency), core / core plus, tax–sensitive, short duration, stable value and opportunistic (U.S. and global) strategies. Standish also offers full service capabilities in insurance client strategies and liability driven investing. The firm includes assets managed by Standish personnel acting as dual officers of The Dreyfus Corporation and The Bank of New York Mellon and Alcentra NY, LLC personnel acting as dual officers of Standish. Standish, Dreyfus and The Bank of New York Mellon are affiliated subsidiaries of BNY Mellon.
BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top U.S. wealth managers, with $1.6 trillion in assets under management. It encompasses BNY Mellon’s affiliated investment management firms, wealth management services and global distribution companies.