Delaware Investments to Outsource Back Office to BNY Mellon
Delaware Investments, a Philadelphia-based diversified asset management firm, has agreed to use back-office services from BNY Mellon Asset Servicing.
BNY Mellon will use its Eagle Star and Eagle Pace technology to provide accounting, administration, and certain back-office services in support of Delaware Investments' U.S. and Dublin-domiciled mutual funds, institutional separate accounts, and other products.
"Turning to BNY Mellon Asset Servicing to perform these important functions reduces our overall risk profile and makes our costs more predictable," said Phil Russo, executive vice president and chief administrative officer of Delaware Investments, in a statement.
Delaware Investments, an affiliate of Lincoln Financial Group, is a Philadelphia-based diversified asset management firm with more than $135 billion in assets under management (as of September 30, 2009). Through a range of managed accounts and portfolios, mutual funds, retirement accounts, sub-advised funds and other investment products, Delaware Investments provides investment services to individual investors and to institutional investors such as private and public pension funds, foundations, and endowment funds.
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