Wisconsin taps BNY Mellon for middle office services
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Wisconsin taps BNY Mellon for middle office services 16 November 2016Milwaukee Reporter: Drew Nicol
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The State of Wisconsin Investment Board (SWIB) has expanded BNY Mellon鈥檚 mandate to provide middle-office investment services for assets worth $105 billion.
BNY Mellon and its Eagle Investment Systems affiliate are supporting SWIB鈥檚 investment and data management needs through the bank's OnCore suite of middle-office solutions, including data management, collateral management and derivative processing.
The bank has provided SWIB with securities lending, custody and data management since 1991.
鈥淏y expanding our relationship with BNY Mellon, we now have a state-of-the-art platform, a critical component of our new portfolio management system. This new system supports SWIB's innovative investment approach and our data management requirements,鈥� said Michael Williamson, executive director of SWIB.
鈥淏NY Mellon's middle office solution allows us to leverage the strategic investments we've made throughout our long standing relationship.鈥�
鈥淭he conversion to BNY Mellon's investment book of record allows us to deliver a high level of data quality for our investment teams.鈥�
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