London-based asset manager Liontrust has consolidated its outsourced fund services after the acquisition of Alliance Trust Investments last year.
The firm has appointed BNY Mellon to carry out various services including accounting, custody and middle office for UK and Ireland fund ranges.
Other services are depositary, global risk solutions and transfer agency, with ancillary services of securities lending, foreign exchange and cash management.
Liontrust, which has £11.3 billion (€12.7 billion) in assets under management, ended up with five asset servicing relationships following the Alliance Trust acquisition.
Vinay Abrol, chief operating officer and chief financial officer of Liontrust, said: “It is clear that moving to a single partner will help us to achieve our strategic objectives.”
The firm ran a provider selection exercise followed by a due diligence process with the support of consultancy Alpha FMC.
The four other outsourcers were NatWest, State Street, DST and Northern Trust.
©2018 funds europe
