Press Releases
Mellon Wins Full Service Administration Mandate for River and Mercantile
LONDON, 21 November 2006 — Mellon Financial Corporation has been awarded the full administration service mandate for River and Mercantile Asset Management and will support the new fund management boutique from its launch on 20 November.
Mellon will provide a full range of services to River & Mercantile. Global custody and depositary services will be provided through Mellon's joint venture, ABN AMRO Mellon Global Securities Services B.V. Fund accounting, performance measurement, fund administration and transfer agency will be provided by Mellon's asset servicing division.
River and Mercantile is initially offering two funds — UK Equity High Alpha and UK Smaller Companies and anticipates launching several additional funds over the course of 2007/08. In addition to the OEICS, River and Mercantile intends to offer investment management for a range of segregated mandates, to which Mellon will provide a range of administration services.
Nadine Chakar, Executive Vice President at Mellon and Chief Executive Officer of ABN AMRO Mellon, comments: "River and Mercantile's mandate is a tremendously important win for us as it underlines the strength of our combined asset servicing offering and the importance of our joint venture partnership, ABN AMRO Mellon, in securing full administration mandates of this nature. We are honoured to be partnering with River and Mercantile at this exciting stage in the company's development and look forward to working alongside the team as the business rapidly accelerates over the coming months."
Julian Cripps, River and Mercantile COO, adds: "We selected Mellon to provide a full range of administration and custody services because they demonstrated a thorough understanding of our business needs, and have the people, technology and experience to help us make the launch of River and Mercantile a success."
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing asset management, private wealth management, asset servicing, and payment solutions and investor services. Mellon has approximately $5.3 trillion in assets under management, administration or custody, including
ABN AMRO Mellon Global Securities Services B.V. is a 50-50 joint venture between ABN AMRO Bank N.V. and Mellon Financial Corporation. It provides global custody and related services to institutions around the world outside North America. The company combines ABN AMRO's worldwide servicing presence with Mellon's advanced technology and product capabilities. Value-added products and services include compliance monitoring, investment accounting, performance measurement and analytics. News and other information about ABN AMRO Mellon Global Securities Services are available at www.abnamromellon.com.
River and Mercantile Asset Management LLP is a new long only investment management boutique. The business was incorporated in 2006 as a Limited Liability Partnership with significant management interest and will initially be focussing on the development of its UK equities division. The cornerstone investor is Pacific Investments which is owned by Sir John Beckwith. News and other information about River and Mercantile is available at www.riverandmercantile.com.