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BlackRock integration unifies BNY and State Street services for Korea’ s NPS
The integrated platform, gone live across NPS’ global operations, provides investment teams with a holistic view of global equity and fixed income portfolios on a single platform.
Korea’ s National Pension Service( NPS) has gone live on
BlackRock’ s Aladdin platform, integrating State Street and BNY’ s middle-office and investment operations services for equity and fixed income assets, respectively. NPS said the unified platform is in line with its vision of a future-proof and scalable operating model. Akiyoshi Takeuchi, head of Aladdin client business, Asia Pacific, BlackRock, said:“ We are thrilled to bring Aladdin’ s world-class investment and risk management capabilities to Korean clients starting with NPS. BlackRock was founded on the principle of helping people invest better, especially for retirement, and it is a privilege to be an integral part of NPS’ s transformation in support of its mission, building on our nearly two-decade relationship.” The integration of Aladdin will provide investment teams with a holistic view of global equity and fixed income portfolios on a single platform. The integrated investment platform has gone live across NPS’ s global operations, including offices in South Korea, New York, London and Singapore. Rohan Singh, head of international asset owners, BNY, said:“ We are honoured to solidify our longstanding relationship with NPS as it transforms its investment management operations. We look forward to continuing to help them evolve by delivering innovative solutions that support a resilient operating model and allow NPS to focus on delivering results for their members.” Min Kim, Korea country head, State Street, said:“ As NPS’ s global custodian bank for over 10 years, we are excited to support NPS to utilise its new operating system to manage risk effectively, drive operational efficiency, balance liquidity and achieve better outcomes for their members.” BNY and BlackRock first agreed a strategic partnership back in 2019, with a view to providing mutual clients with real-time data insights through the investment lifecycle. The partnership was then extended in 2021 to give clients greater freedom of choice around middle-office services. In the last year, the two firms have collaborated on two significant mandates – providing a front-to-back investment platform for Asia based insurance giant AIA Group, as well as implementing a new portfolio management system for Liontrust Asset Management.
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