The Bank of New York Mellon Corporation and BlackRock, through its BlackRock Solutions business, announced today a strategic alliance to deliver integrated data, technology, and asset management servicing capabilities to common clients. These new capabilities integrate BNY Mellon’s data insights, accounting, and servicing tools into Aladdin®, BlackRock’s investment and operating platform for investment managers.
This collaboration builds on a multi-year effort by BlackRock Solutions and BNY Mellon to transform the investment manager operating model. These joint efforts, demonstrated through years of BNY Mellon servicing BlackRock, have already helped to increase transparency at multiple stages of the investment lifecycle, accelerate information delivery, and synchronize the data that supports core functions for asset managers.
BlackRock and BNY Mellon will now offer the joint capabilities to common clients, bringing significant and immediate benefits to front office, technology, and operations teams, including:
• Near real-time trade lifecycle information and more precise intra-day projections of net cash positions to enhance front office decision-making
• Enhanced real-time insights and transparency, exception-based monitoring, and drill-down capabilities into core accounting and custody oversight functions
• Closer data integration and shared workflows in Aladdin, substantially improving operational efficiency and processing rates
Along with these ready-to-deploy capabilities, BNY Mellon and BlackRock are working together on new solutions to provide clients additional flexibility and insights through the investment lifecycle from the front office to operations to accounting.
“We are excited to expand our partnership with BlackRock and help our clients drive significantly greater performance by integrating workflows, providing data and insights, and enhancing the client experience,” said Hani Kablawi, CEO of Global Asset Servicing at BNY Mellon. “For clients who choose both firms, we can provide immediate value across their investment lifecycle and this a meaningful example of our commitment to work with third parties to more closely integrate the front-to-back operating model.”
“We are thrilled to partner with BNY Mellon to help clients more closely couple data and further optimize their operating models, driving more efficiency,” said Rob Goldstein, BlackRock’s Chief Operating Officer and Head of BlackRock Solutions. “The combination of Aladdin’s capabilities with BNY Mellon’s data and tools will further enable our common clients to access their investment management and servicing capabilities on one platform. Both firms have already demonstrated the value of enhanced technology and servicing integration over the years. We are excited to formalize this track record of successful collaboration and extend these benefits to the broader Aladdin Community.”
Re-disseminated by The Asian Banker