Bear Stearns Asset Management (BSAM), a U.S.-based equity, hedge funds and fixed-income investment management services provider, has awarded an outsourcing contract to Mellon Financial, a Pittsburgh-headquartered financial outsourcing services provider. The financial terms and duration of the deal have not been disclosed.

Under the terms of the deal, Mellon Financial will provide a wide range of back-office services including account opening and maintenance, transaction support, custodian reconciliation and investor reporting services to BSAM. In addition, the company will also provide an imaging and workflow tool to BSAM.