Bravura Solutions signs major new agreement with The Bank of New York Mellon for Rufus platform

04 February 2008 Bravura Solutions signs major new agreement with The Bank of New York Mellon for Rufus platform

LONDON, United Kingdom; 1 February 2008 (ASX: BVA) Bravura Solutions, a global supplier of wealth management applications and professional services, has signed an agreement with The Bank of New York Mellon to extend the existing relationship. The agreement has an upfront value of A$15 million, with significant potential for future revenue.

Simon Woodfull, Group CEO & Director - Operations, said: “We are delighted The Bank of New York Mellon, is continuing to broaden its relationship with Bravura Solutions. Our growing client base on the Rufus platform reinforces our leading position in the UK and European transfer agency sector.”

The new agreement extends Bravura’s existing five year contract with The Bank of New York until the end of 2013 following its purchase of the Rufus Software business in December 2006.

Andrew Bell, Executive Vice President, The Bank of New York Mellon said “We are pleased to extend our relationship with Bravura. This agreement broadens and strengthens our existing partnership, and provides opportunity for the administration of new product lines.”

The Bank of New York Mellon already administers over five hundred thousand accounts, encompassing more than £175 billion of assets under management across 22 on-shore and 52 off-shore management companies on the Rufus platform.

Work undertaken will focus on The Bank of New York Mellon administration offices based in London, Edinburgh and Pune, India.