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BNY Mellon acquires LDI specialist
Bank of New York Mellon has extended its product suite with the acquisition of a liability-driven investment (LDI) and active fixed income specialist, Insight Investment Management Limited.
BNY Mellon announced the acquisition this week, saying Insight Investment would join with the other investment management boutiques within the company and bring assets under management to more than US$1 trillion.
Commenting on the acquisition, BNY Mellon Asset Management president and chief executive Ron O’Hanley said LDI was a critical tool for meeting the needs of current and future retirees.
“Not only is this acquisition financially compelling from our shareholders’ perspective, it deepens our global capabilities and is consistent with our ongoing strategy to create broad-based solutions for our clients,” he said.
Established in 2002, Insight Investment is the fastest growing UK institutional asset manager.
AUTHOR
Mike Taylor
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