BNY to Acquire Archer Holdco

The Bank of New York Mellon Corporation has agreed to acquire Archer Holdco, a technology-enabled service provider of managed account solutions to the asset and wealth management industry. According to a story in Traders Magazine, 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. 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. 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 cloud-based platform, Archer helps its clients to expand distribution, streamline operations, launch new investment products and deliver personalized outcomes to a broader market. 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.