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BNY Mellon Selected by Charles Schwab Investment Management to Provide Transfer Agency Services

BNY Mellon has secured a mandate from global investment manager, Charles Schwab Investment Management, Inc., to deliver transfer agency services. BNY Mellon was selected based on its long-term commitment to the transfer agency business, as well as its experience delivering a leading client service model, technology platform and operational services.

“We are very pleased to be able to provide Charles Schwab Investment Management with the ability to help reduce the complexity and costs associated with servicing its clients’ assets,” said Steve Farlese, Head of Investor Solutions Products at BNY Mellon. “This is another major step for BNY Mellon in continuing to provide an aligned operational structure that provides direct servicing benefits, streamlines access to investment information and improves efficiencies for our clients and their distribution partners.”

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BNY Mellon is able to tap-into its vast industry expertise and a global footprint that services both asset managers and their intermediaries. This wide breath of knowledge is further enhanced by the direct servicing benefits the BNY Mellon OMNI platform will bring to Charles Schwab Investment Management; along with the global scale, trust, and commitment to resiliency BNY Mellon offers.

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Mark Fischer, Chief Financial Officer of Charles Schwab Investment Management, said: “We are eager to work with the BNY Mellon team and have been impressed by its service model, solutions, deep industry experience and the strategic vision they bring to investor solutions.”

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