The strategic alliance will integrate BNY Mellon’s data insights, accounting and servicing tools into Aladdin, BlackRock’s investment and operating platform for managers.
BNY Mellon has serviced BlackRock for years and has already helped to increase transparency at multiple stages of the investment lifecycle, accelerate information delivery and synchronize the data that supports core functions for asset managers.
Common clients will now benefit from real-time trade information, insights and transparency as well as closer data integration and shared workflows.
The collaboration will also see BNY Mellon and BlackRock work together on new solutions to provide additional flexibility and insights through the investment lifecycle from the front office to operations and accounting.
BNY Mellon’s chief executive of global asset servicing Hani Kablawi said they were exciting to offer clients an enhanced experience.
“For clients who choose both firms, we can provide immediate value across their investment lifecycle and this a meaningful example of our commitment to work with third parties to more closely integrate the front-to-back operating model,” he said.
BlackRock’s chief operating officer and head of solutions Rob Goldstein said he was pleased to help clients more closely couple data and further optimise their operating models.
“The combination of Aladdin’s capabilities with BNY Mellon’s data and tools will further enable our common clients to access their investment management and servicing capabilities on one platform.
“Both firms have already demonstrated the value of enhanced technology and servicing integration over the years. We are excited to formalize this track record of successful collaboration and extend these benefits to the broader Aladdin Community,” he said.