In a strategic move to bolster its asset management services, BNY has announced its acquisition of Archer, a technology and operations provider. The deal, valued undisclosed, is set to close in the fourth quarter pending regulatory approval.
Boosting Managed Account Capabilities
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The acquisition will significantly enhance BNY’s managed account services through Archer’s advanced cloud-based platform. This integration aims to provide more customized portfolio solutions for retail investors, leveraging Archer’s technology to meet the growing demand in the asset management industry.
Impact on Asset and Wealth Management
Managed accounts are increasingly popular among investment advisors and asset managers for their ability to offer tailored investment options. By integrating Archer’s capabilities, BNY positions itself to better serve asset and wealth managers, driving growth in this rapidly expanding sector.
Source – Yahoo