NEW YORK, Nov. 1, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY") (NYSE: BK), a global financial services company, today announced the successful closing of its acquisition of Archer Holdco, LLC ("Archer"), a leading technology-enabled service provider of managed account solutions to the asset and wealth management industry. The entry into the definitive agreement to acquire Archer was previously announced on September 5, 2024.

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.

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 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of September 30, 2024, BNY oversees $52.1 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY employs over 50,000 people globally and has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news. 

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 U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results or other developments. When used in this press release, words or phrases generally written in the future or present tense and/or preceded by words such as "will," "may," "could," "expect," "believe," "anticipate," "intend," "plan," "seek," "estimate,"  or other similar words are forward-looking statements. Various forward-looking statements in this press release relate to the acquisition by BNY of Archer, including regarding additional capabilities and functionality, growth (including the growth of the managed account market), and client and stockholder benefits.

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 U.S. Securities and Exchange Commission, including, without limitation, BNY 's most recent Annual Report on Form 10-K and subsequent periodic and current reports.

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.

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SOURCE BNY