BNY Mellon, a global leader in investment management and investment services, today announced the completion of the migration of the Man AHL book of business. The successful migration was announced by Chandresh Iyer, CEO of BNY Mellon's Alternative Investment Services (AIS) and Structured Products business.
Man AHL, a pioneer in systematic trading, selected BNY Mellon as administrator following an extensive market search. The selection process required participants to demonstrate the ability to support highly complex multi-jurisdictional requirements, including high trading volumes, a large base of investors with daily dealing and support of a global intermediary distribution network, as well as to demonstrate an ongoing commitment to leverage technology to support continued improvements to the business model.
"From their appointment as fund administrator BNY Mellon were fully committed to leading a multifaceted global migration across a large number of funds, investors, intermediaries and legal jurisdictions," said Geoff Galbraith, Chief Operating Officer, Man Group. "The teams at both BNY Mellon and Man Group have worked collaboratively throughout the planning and transition process to execute a highly professional and successful transition."
"We are committed to delivering growth-enabling solutions to global hedge funds," said Iyer. "This agreement to support the Man AHL book of business not only represents an important new milestone in our long-standing relationship with Man Group but also demonstrates BNY Mellon's ability to convert a highly complex book of business in a timely and highly efficient manner."