Brown Brothers Harriman (BBH) is pleased to announce that it has entered into an arrangement with MUFG Investor Services, a division of Mitsubishi UFJ Trust and Banking Corporation (MUTB) under Mitsubishi UFJ Financial Group, Inc (MUFG), for the provision of enhanced securities lending services to BBH’s Asset Manager and Financial Institutions clients globally. MUTB offers a wide breadth of securities lending servicing capabilities. BBH clients will benefit from a sophisticated securities lending product offering including expanded market coverage, trading opportunities, collateral flexibility, comprehensive approved borrowers, and industry-leading indemnification backed by Japan’s largest banking group. Like BBH, MUTB is highly focused on delivering an optimal client experience.

BBH and MUTB are developing an integrated model across our workflows, servicing, and support. As part of the integrated model, MUTB will provide best-in-class securities lending capabilities and trading strategies, including fixed income market coverage and collateral flexibility. BBH will be responsible for coordination between BBH and MUTB to ensure seamless integration in the delivery of custody and securities lending services for BBH clients going forward.

“This cooperative model with MUTB enhances BBH’s position as the custodian and administrator of choice for the world’s most sophisticated asset managers and financial institutions,” said Chris Gothard, Partner responsible for BBH’s Markets offerings. “Our strategy is to focus on the solutions where we can deliver premier service, innovative technology, and specialist expertise to our clients, and scale our business through the creation of strategic relationships where it makes sense for our clients.  We know our clients will benefit from the best-in-class securities lending services offered by MUTB in combination with BBH.”

“We are extremely pleased and honored to have the opportunity to collaborate with BBH in securities lending. The philosophy and values of our two respective securities lending programs have always been similar in that we both provide high-touch, world class service to a relatively small number of sophisticated institutional investors. We look forward to continuing to offer the same high standards of service while also providing additional capabilities and options for BBH clients,” said Tim Smollen, EVP and Global Head of Global Securities Lending Solutions at MUFG Investor Services.

Source: BBH