Hermes outsources investment operations to BNY

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UK - The Bank of New York has been selected by the £60bn Hermes Pensions Management, the UK manager which looks after the British Telecom pension scheme, to participate in exclusive due diligence with a view to providing investment operations outsourcing services in the UK.

The proposal will involve the complete migration of the Hermes’ investment operations functions to the bank’s BNY SmartSourceSM strategic IT platform and centralised outsourcing business model. ...

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