BNY Closes Acquisition of Archer
Rhea-AI Summary
BNY (NYSE: BK) has successfully completed its acquisition of Archer Holdco, a technology-enabled service provider specializing in managed account solutions for the asset and wealth management industry. The acquisition, initially announced on September 5, 2024, strengthens BNY's position as a leading service provider supporting asset managers across all fund wrappers. Archer's comprehensive middle- and back-office solutions will be integrated with BNY's broader capabilities, serving institutional, private wealth, and retail investors. The deal positions BNY strategically in the managed accounts sector, which is experiencing rapid growth in the investment industry.
Positive
- Strategic acquisition in the fast-growing managed accounts sector
- Expansion of service capabilities across fund wrappers
- Enhancement of middle and back-office solutions portfolio
- Integration of complementary technology services
Negative
- None.
News Market Reaction – BK
On the day this news was published, BK declined 0.07%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Managed accounts are among the fastest growing investment vehicles in the industry. Archer provides asset and wealth managers with comprehensive middle- and back-office solutions to address the needs of institutional, private wealth and retail investors.
Archer's clients will be able to access fully integrated solutions across the entire managed account lifecycle leveraging the broader capabilities of the BNY enterprise. The transaction uniquely positions BNY as the leading service provider to support asset managers across all fund wrappers for their institutional and retail investor base.
"We are pleased to announce the successful closing of the Archer transaction and are thrilled to welcome Bryan Dori and the talented Archer team to BNY," said Emily Portney, Global Head of Asset Servicing at BNY.
Media | Analysts |
Garrett Marquis | Marius Merz |
+1 949 683 1503 | +1 212 298 1480 |
About BNY
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in
About Archer
Archer is a technology-enabled service provider that helps investment managers deliver solutions aligned with investor needs. With Archer, investment managers can maintain their proven investment process while outsourcing operations and technology to benefit from a service model geared for growth. Archer has expansive connectivity across the industry and deep experience working with asset managers to help them swiftly streamline operations, enter new distribution channels, and launch new products.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the
These forward-looking statements are based upon current beliefs, expectations and assumptions and are inherently subject to a number of known and unknown business, operational, economic, competitive and other risks, uncertainties and important factors, some of which are listed below, that are beyond the control of BNY and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Important transaction-related and other risk factors that may cause such differences include, but are not limited to, the following: (i) BNY may be unable to successfully integrate Archer's business with BNY or to integrate the business within the anticipated timeframe; and (ii) anticipated benefits of the transaction may not be fully realized or may take longer, or be more costly, to realize than expected. The foregoing list of important factors is not exhaustive.
For a detailed discussion of other risk factors regarding BNY, please refer to the risks, uncertainties and factors described in BNY's recent filings with the
All forward-looking statements in this press release speak only as of the date on which such statement is made. BNY undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
View original content:https://www.prnewswire.com/news-releases/bny-closes-acquisition-of-archer-302294082.html
SOURCE BNY