Fixed Income 

BNY Mellon acquires fixed income specialist

BNY Mellon Investment Management has acquired the US based fixed income and solutions specialist Cutwater Asset Management.

When the deal is completed Cutwater will be administered by Insight Investments, one of BNY Mellon’s management boutiques.

The deal will focus on the US business, but the group said over time the UK business will benefit from the acquisition.

Abdallah Nauphal, chief executive officer and chief investment officer of Investments at Insight said: “Working with Cutwater, we will augment Insight’s current fixed income capabilities, deepening Insight’s fixed income research and portfolio management expertise in the world’s biggest and most diverse credit market.”

Curtis Arledge, chief executive officer of BNY Mellon said: “Given the unprecedented interest in the fixed income market at this time, we are excited by the opportunity to expand our investment offerings for clients.”

Cutwater has about $23bn in assets under management.