The Bank of New York Mellon Corporation (BK) has announced a definitive agreement to acquire Archer Holdco, LLC, a technology-enabled service provider specializing in managed account solutions for the asset and wealth management sector. Financial terms of the transaction were not disclosed. According to the company, the financial impact is expected to be minimal in terms of earnings and will not affect its outlook on capital returns.With the integration of Archer’s managed account solutions, capabilities, and professional servicing team, BNY Mellon aims to strengthen its enterprise platform to better support retail managed accounts.The material has been provided by InstaForex Company – www.instaforex.com
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