BNY Mellon Asset Servicing has received a new outsourcing contract from Seattle-based Rainier Investment Management.
BNY Mellon said it will provide a range of outsourcing support, including accounting, performance measurement, account opening, account reconciliation, client reporting and client billing to Rainier Investment.
Melodie Zakaluk, chief operations officer of Rainier Investment Management, said: “Strategically, outsourcing was the right choice for Rainier. It allowed Rainier to focus on outstanding client service while leveraging a scalable operational platform.
“All of the resources in the operations area prior to outsourcing have been reassigned to roles focused on servicing our clients. Our clients look to us for superior value, and we’re confident that BNY Mellon is a partner we can rely on to help us consistently deliver.”
Lou Maiuri, global head of outsourcing for BNY Mellon Asset Servicing, said: “The demand for outsourcing services from asset management firms like Rainier continues unabated. More and more of these companies are making a choice to focus on their core competencies managing assets and client relationships and letting skilled service providers like BNY Mellon handle their back-office operations and maintain the technology commitment today’s environment requires.”