{"id":40838,"date":"2014-02-26T07:17:13","date_gmt":"2014-02-26T12:17:13","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=40838"},"modified":"2014-02-26T07:17:13","modified_gmt":"2014-02-26T12:17:13","slug":"hedge-fund-strategy-bny-mellon-acquires-hedgemark","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2014\/hedge-fund-strategy-bny-mellon-acquires-hedgemark.html","title":{"rendered":"Hedge Fund Strategy: BNY Mellon Acquires HedgeMark"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/01\/people-money-puzzle-300x238.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-33423\" alt=\"people moves\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/01\/people-money-puzzle-300x238.jpg\" width=\"300\" height=\"238\" \/><\/a>New York (HedgeCo.Net) &#8211;\u00a0BNY Mellon has signed an agreement to acquire the remaining 65% interest of current affiliate and hedge fund risk analytic services,\u00a0HedgeMark International, LLC., \u00a0Zacks Equity Research reports.\u00a0BNY Mellon has held a 35% ownership stake in HedgeMark since 2011.<\/p>\n<p>&#8220;As institutional clients continue their shift into alternatives, especially hedge funds, this acquisition will enable us to better meet demands for improved governance, risk reporting, and transparency,&#8221; said\u00a0Samir Pandiri, BNY Mellon executive vice president and CEO of Asset Servicing. &#8220;We&#8217;ll be able to integrate HedgeMark&#8217;s capabilities with our Global Risk Solutions offerings to set a new industry benchmark on risk and transparency. It marks the next step in our strategy to provide sharper insight into hedge fund investments and enterprise risk across a client&#8217;s entire portfolio.&#8221;<\/p>\n<p>BNY Mellon\u2019s stock price movement following the news release depicted a positive market response. The shares closed at $31.80 on Feb 24, up 1.4% from the previous day.<\/p>\n<p>Ken Phillips, HedgeMark&#8217;s founder and CEO,\u00a0has announced his intention to retire when the transaction is completed. HedgeMark&#8217;s board of directors will appoint\u00a0Andrew Lapkin, current president, as its new CEO. Lapkin will help supervise the transition and report to Pandiri after the closing.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211;\u00a0BNY Mellon has signed an agreement to acquire the remaining 65% interest of current affiliate and hedge fund risk analytic services,\u00a0HedgeMark International, LLC., \u00a0Zacks Equity Research reports.\u00a0BNY Mellon has held a 35% ownership stake in HedgeMark since [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16044,3],"tags":[],"class_list":["post-40838","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-strategies-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=40838"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40838\/revisions"}],"predecessor-version":[{"id":40841,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40838\/revisions\/40841"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=40838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=40838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=40838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}