BNY to Acquire Archer, a Leading Provider of Managed Account Solutions to the Asset and Wealth Management Industry
BNY (NYSE: BK) has announced its plan to acquire Archer, a leading provider of managed account solutions for the asset and wealth management industry. This strategic acquisition aims to enhance BNY's capabilities across the entire managed account ecosystem, including manufacturing, distribution, and servicing. Archer's fully integrated, cloud-based platform offers asset and wealth managers a multi-product and multi-channel solution.
The integration of Archer's solutions will allow BNY to offer fully integrated, end-to-end retail managed account solutions across its platform. This move is expected to capitalize on the projected growth of the retail managed account market, which is forecasted to exceed $8 trillion in assets over the next three years in the U.S. The transaction is anticipated to close in the fourth quarter of 2024, subject to regulatory approvals and customary closing conditions.
BNY (NYSE: BK) ha annunciato il suo piano per acquisire Archer, un fornitore leader di soluzioni per conti gestiti nel settore della gestione patrimoniale e della gestione degli asset. Questa acquisizione strategica mira a migliorare le capacità di BNY nell'intero ecosistema dei conti gestiti, inclusi fabbricazione, distribuzione e servizio. La piattaforma completamente integrata e basata su cloud di Archer offre ai gestori di asset e di patrimoni una soluzione multi-prodotto e multi-canale.
L'integrazione delle soluzioni di Archer consentirà a BNY di offrire soluzioni per conti gestiti al dettaglio completamente integrate e di fine-to-fine sulla propria piattaforma. Questa mossa è destinata a capitalizzare la crescita prevista del mercato dei conti gestiti al dettaglio, che dovrebbe superare $8 trilioni in asset nei prossimi tre anni negli Stati Uniti. Si prevede che la transazione si chiuda nel quarto trimestre del 2024, soggetta ad approvazioni normative e condizioni di chiusura consuete.
BNY (NYSE: BK) ha anunciado su plan para adquirir Archer, un proveedor líder de soluciones de cuentas gestionadas para la industria de gestión de activos y patrimonio. Esta adquisición estratégica tiene como objetivo mejorar las capacidades de BNY en todo el ecosistema de cuentas gestionadas, incluidas la fabricación, distribución y servicio. La plataforma totalmente integrada y basada en la nube de Archer ofrece a los gerentes de activos y patrimonio una solución multi-producto y multi-canal.
La integración de las soluciones de Archer permitirá a BNY ofrecer soluciones de cuentas gestionadas minoristas completamente integradas y de extremo a extremo en su plataforma. Se espera que este movimiento capitalice el crecimiento proyectado del mercado de cuentas gestionadas minoristas, que se prevé que supere $8 billones en activos durante los próximos tres años en EE. UU. Se anticipa que la transacción se cierre en el cuarto trimestre de 2024, sujeta a aprobaciones regulatorias y condiciones de cierre habituales.
BNY (NYSE: BK)는 자산 및 자산 관리 산업을 위한 관리 계좌 솔루션의 주요 제공업체인 Archer를 인수할 계획을 발표했습니다. 이번 전략적 인수는 제조, 유통 및 서비스 등 관리 계좌 생태계 전반에 걸쳐 BNY의 역량을 강화하는 것을 목표로 하고 있습니다. Archer의 완전히 통합된 클라우드 기반 플랫폼은 자산 및 자산 관리자에게 다중 제품 및 다중 채널 솔루션을 제공합니다.
Archer의 솔루션 통합을 통해 BNY는 플랫폼에서 완전 통합된 종합 소매 관리 계좌 솔루션을 제공할 수 있게 됩니다. 이 조치는 3년 내에 미국에서 8조 달러 이상의 자산으로 예상되는 소매 관리 계좌 시장의 성장에 발맞출 것으로 기대됩니다. 이 거래는 2024년 4분기에 규제 승인 및 일반적인 마감 조건에 따라 완료될 것으로 예상됩니다.
BNY (NYSE: BK) a annoncé son plan d'acquérir Archer, un fournisseur leader de solutions de comptes gérés pour l'industrie de la gestion d'actifs et de fortune. Cette acquisition stratégique vise à améliorer les capacités de BNY dans l'ensemble de l'écosystème des comptes gérés, y compris la fabrication, la distribution et le service. La plateforme entièrement intégrée et basée sur le cloud d'Archer offre aux gestionnaires d'actifs et de fortunes une solution multi-produits et multi-canaux.
L'intégration des solutions d'Archer permettra à BNY d'offrir des solutions de comptes gérés au détail entièrement intégrées de bout en bout sur sa plateforme. Cette démarche est censée tirer parti de la croissance projetée du marché des comptes gérés au détail, qui devrait dépasser 8 billions de dollars d'actifs au cours des trois prochaines années aux États-Unis. La transaction devrait se clôturer au quatrième trimestre 2024, sous réserve des approbations réglementaires et des conditions de clôture habituelles.
BNY (NYSE: BK) hat seinen Plan angekündigt, Archer zu übernehmen, einen führenden Anbieter von verwalteten Kontolösungen für die Vermögens- und Anlageverwaltung. Diese strategische Übernahme zielt darauf ab, BNYS Fähigkeiten im gesamten Ökosystem der verwalteten Konten zu verbessern, einschließlich Herstellung, Vertrieb und Service. Die vollständig integrierte, cloudbasierte Plattform von Archer bietet Vermögensverwaltern und Vermögensmanagern eine Multi-Produkt- und Multi-Channel-Lösung.
Die Integration der Lösungen von Archer wird es BNY ermöglichen, auf seiner Plattform vollständig integrierte, End-to-End-Lösungen für den Einzelhandel mit verwalteten Konten anzubieten. Diese Maßnahme wird voraussichtlich das prognostizierte Wachstum des Marktes für verwaltete Konten im Einzelhandel nutzen, der voraussichtlich in den nächsten drei Jahren in den USA 8 Billionen Dollar an Vermögen überschreiten wird. Die Transaktion wird voraussichtlich im vierten Quartal 2024 abgeschlossen, vorbehaltlich regulatorischer Genehmigungen und üblicher Abschlussbedingungen.
- Acquisition of Archer expands BNY's capabilities in the fast-growing managed account sector
- Integration enhances BNY's enterprise platform to support retail managed accounts
- Provides access to Archer's multi-custodial network and expanded distribution of model portfolios
- Targets a market projected to grow at double-digit compound annual growth rate
- Strengthens BNY's position in offering customized portfolios to retail investors at scale
- Financial terms of the acquisition were not disclosed
- Transaction not expected to materially impact BNY's earnings or capital return outlook
Insights
BNY's acquisition of Archer is a strategic move to capitalize on the rapidly growing managed accounts market. With projections indicating a double-digit CAGR and potential
The deal enhances BNY's capabilities across the entire managed account ecosystem, potentially leading to increased revenue streams and market share. Archer's cloud-based platform should provide operational efficiencies and enable BNY to offer more comprehensive solutions to clients, potentially improving profit margins.
While financial terms weren't disclosed, the statement that it's not expected to materially impact earnings suggests a reasonable acquisition price relative to BNY's size. Investors should monitor integration progress and any synergies realized post-acquisition.
Archer's fully integrated, cloud-based platform is a significant technological asset for BNY. This acquisition aligns with the industry trend towards cloud-native, scalable solutions that can handle complex multi-product and multi-channel requirements.
The platform's ability to support direct indexing and tax-optimized portfolios is particularly noteworthy, as these are increasingly sought-after features in the wealth management space. BNY's existing clients will likely benefit from enhanced technological capabilities, potentially improving customer retention and attracting new business.
Integration of Archer's tech stack with BNY's systems will be crucial. Successful implementation could lead to improved operational efficiency and a more competitive offering, while any integration challenges could temporarily impact service quality.
This acquisition reflects the growing importance of personalized investment solutions in the retail market. The ability to offer customized portfolios at scale is becoming a key differentiator in the asset management industry.
BNY's move to enhance its enterprise platform for retail managed accounts is timely, given the projected market growth. This positions the company to potentially outperform competitors who lack such comprehensive offerings.
The multi-custodial network access provided by Archer could significantly expand BNY's distribution capabilities, potentially leading to increased market penetration. However, the success of this strategy will depend on BNY's ability to effectively leverage these new capabilities and adapt to evolving market demands.
The acquisition will enhance BNY's capabilities across the entire managed account ecosystem, including manufacturing, distribution and servicing
Archer's fully integrated, cloud-based platform provides asset and wealth managers with a multi-product and multi-channel solution
Archer provides asset and wealth managers with comprehensive middle- and back-office solutions to address the managed account needs of institutional, private wealth and retail investors. Through its fully integrated, cloud-based platform, Archer helps its clients to expand distribution, streamline operations, launch new investment products and deliver personalized outcomes to a broader market.
"Managed accounts are one of the fastest-growing investment vehicles in the asset management industry, enabling investment advisors and asset managers to offer customized portfolios to retail investors at scale," said Emily Portney, Global Head of Asset Servicing at BNY. "By combining Archer's market-leading capabilities with BNY's broader footprint and expertise, BNY will offer fully integrated, end-to-end retail managed account solutions across our entire platform."
With the integration of Archer's managed account solutions, capabilities and professional servicing team, BNY will enhance its enterprise platform to support retail managed accounts, a market that is projected to grow at a double-digit compound annual growth rate to over
In addition to augmenting BNY's existing asset servicing capabilities for managed accounts, Archer will provide BNY Investments and BNY Pershing's Wove wealth platform for advisors with expanded distribution of model portfolios and access to Archer's multi-custodial network.
"Today's asset and wealth managers have a strong desire to create multi-asset solutions across a variety of products, along with direct indexing and tax optimized portfolios, to meet the needs of their distribution partners and investors," added Bryan Dori, President and CEO of Archer. "As a new addition to the BNY platform, Archer's expertise, capabilities and scale will be leveraged across all of BNY to help even more clients drive long-term growth for their businesses."
The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals and other customary closing conditions. Financial terms were not disclosed. The financial impact of the transaction is not expected to be material to BNY's earnings and its previously communicated outlook for capital returns.
BofA Securities served as financial advisor and Sullivan & Cromwell acted as legal counsel for BNY. Raymond James served as financial advisor and DLA Piper acted as legal counsel for Archer.
1According to Cerulli Inc, The Cerulli Report — | ||
Media
Garrett Marquis
+1 949 683 1503
garrett.marquis@bny.com
Analysts
Marius Merz
+1 212 298 1480
marius.merz@bny.com
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
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in
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
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) the occurrence of any event, change or other circumstances that could give rise to the termination of the acquisition agreement; (ii) the transaction closing conditions may not be satisfied in a timely manner or at all, including due to the failure to obtain necessary regulatory approvals or that such regulatory approvals are obtained subject to conditions that are not anticipated; (iii) the announcement and pendency of the acquisition may disrupt Archer's business operations (including the threatened or actual loss of employees, clients or suppliers); (iv) BNY may be unable to successfully integrate Archer's business with BNY or to integrate the business within the anticipated timeframe; and (v) 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
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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FAQ
What is the purpose of BNY's acquisition of Archer?
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