Allianz Global Investors (Allianz GI) has appointed BNY to provide an investment operating model across its back and middle offices.
The firm is the latest to embrace outsourcing, following in the footsteps of Jupiter Asset Management earlier this year – which also selected BNY for its custody operations.
READ MORE: Jupiter slims down custodian partners, rejects outsourced trading
While BNY will now offer middle and back-office solutions to Allianz GI globally, and custody, depositary, transfer agency and fund administration services across Germany, Luxembourg and the UK, the asset manager has confirmed to Global Trading that it has no plans to outsource trading.
Through the outsourcing, Allianz GI aims to futureproof its operations and employ BNY’s AI and data infrastructure services. The company states that this will improve productivity and generate better insights and outcomes.
“This end-to-end optimisation of our operating model will ensure that we can continue to provide our clients with outstanding client service for years to come,” stated chief technology officer Steffen Lanzinner.
