Prne
September 30th, 2009
LONDON -
BNY Mellon, a global leader in securities servicing and asset management, having received all required regulatory approvals has today announced the merger of its Dutch-based subsidiary BNY Mellon Asset Servicing B.V. into the Belgian bank entity it established in May of this year.
The merger sees the Belgian bank assume all of BNY Mellon Asset Servicing B.V.’s operations, which encompass asset servicing activities across London, Amsterdam, Breda, Luxembourg and Frankfurt and employ a total of 500 staff.
The Belgian bank was created to act as the lead European entity for the BNY Mellon’s asset servicing activities. Following the merger, it will have assets of circa EUR36 billion, making it the sixth largest* bank in Belgium, and will employ approximately 1400 staff. It will have branches in the Netherlands, the United Kingdom, Germany and Luxembourg.
Nadine Chakar, CEO of the Belgian bank, said: “By merging our Dutch-based B.V. into our Belgian bank we have further aligned our various legal entity structures to support our growth strategy within the EMEA region.
“Our creation of a regional hub in Brussels gives us a financial, commercial and operational base that allows us to step up the ongoing expansion of our business across the region and consolidates our position as the leading provider of securities servicing globally. Our Belgian banking licence will also benefit us when it comes to future membership in European payment platforms.”
*By size of balance sheet
Notes to editors
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation.
The Bank of New York Mellon SA/NV - the Belgian Bank - is a fully-owned subsidiary of BNY Mellon that is authorised, regulated and supervised by the Banking, Finance and Insurance Commission of Belgium (CBFA).
BNY Mellon’s Asset Servicing business offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing offers its products and services through The Bank of New York Mellon and other subsidiaries of The Bank of New York Mellon Corporation.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has US$20.7 trillion in assets under custody and administration, US$926 billion in assets under management, services US$11.8 trillion in outstanding debt and processes global payments averaging US$1.8 trillion per day. Additional information is available at www.bnymellon.com.
Source: BNY Mellon
Tim Steele of BNY Mellon, +44-20-7163-5850, tim.steele at bnymellon.com
Filed under Acquisitions / Mergers / Takeovers, Banking and Financial Services, Investors | Tags: BNY Mellon, London, Western Europe | Comment Below
Related Press Releases BNY Mellon Asset Servicing Awarded US $11 Billion Global Custody Mandate by Jyske BankSeptember 13th, 2009 LONDON -
BNY Mellon Asset Servicing, the global leader in securities servicing, has been appointed by Jyske Bank, the second largest independent bank in Denmark to provide global custody services for assets valued at US $11 billion
Jyske Bank is headquartered in Silkeborg and supports a range of institutional and wealth management clients. They had managed their own sub-custody network in over 40 markets directly prior to appointing BNY Mellon. Credit Suisse Asset Management Selects BNY Mellon Asset Servicing to Provide Full Range of Fund Administration Services for New Exchange-Traded Funds (ETF)July 14th, 2009 DUBLIN -
- CSAM launches first Irish ETFs
BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected by Credit Suisse Asset Management (CSAM) to provide a full range of fund services including accounting, administration, transfer agency and custody services, to support the launch of their first Irish ETFs. The ETFs will be UCITS products and will be based on broad market equity and fixed income indices. Tauern Gas Pipeline Starts TGL Open Season 2009 on 29th June 2009June 28th, 2009 VIENNA - The allocation procedure for the transportation capacities of the Tauern Gas Pipeline project, known as TGL Open Season 2009, starts on 29th June. In this next step of the feasibility study, the market demand will be determined on the basis of binding capacity requests and long-term transportation capacities allocated on a non-discriminatory basis. BNY Mellon Asset Servicing Announces CAPS Pooled Pension Fund Update for May 2009June 22nd, 2009 LONDON - All equity markets post positive returns with North American equity the only exception
BNY Mellon Asset Servicing, the global leader in securities servicing, has today announced the CAPS pooled pension funds performance results in the UK for May 2009. Balanced pooled funds produced positive returns during May 2009 with a median return of 2.2%, turning the year to date returns to April from negative to positive, for the period ending May. Standish Mellon Asset Management to Launch TALF StrategiesJune 3rd, 2009 BOSTON - Sees advantage to early investors in program
Standish Mellon Asset Management Company LLC, the fixed income specialist for BNY Mellon Asset Management, will offer investment strategies that will enable its clients to invest in securities related to the Term Asset-Backed Securities Loan Facility (TALF). Standish said it is initiating these strategies because of strong expressions of interest from its clients. The Bank of New York Mellon Corporation Looks to Future European Growth With Establishment of New Belgian Bank EntityMay 5th, 2009 LONDON - The Bank of New York Mellon SA/NV will be sixth largest bank in Belgium
The Bank of New York Mellon Corporation, the global leader in securities servicing and asset management, today announced it has established The Bank of New York Mellon SA/NV, a new banking entity that will be the lead European entity for a range of business activities, including global custody, global collateral management and depotbank. By the end of 2009, the new Belgian bank will incorporate activities carried out by the existing BNY Mellon Brussels Branch and, subject to regulatory approval, the Netherlands-based BNY Mellon Asset Servicing B.V. Brazil Well Positioned to Weather Global Financial Crisis and Provides Opportunities for Value Investors, According to BNY Mellon ARXApril 5th, 2009 NEW YORK - Reforms, Demand for Commodities Help Build Financial Cushion
Brazil's reforms over the past decade have helped position the country to weather the global economic crisis, and several factors suggest that the equity markets are providing opportunities for value investors, according to BNY Mellon ARX, the BNY Mellon Asset Management unit focused on Brazil. "The benefits of the Real Plan of the 1990s, the commodity boom, and the growing buying power of the expanding middle class have all contributed to strengthening the country's economy," said Jose Alberto Tovar, managing director of BNY Mellon ARX. Mellon Transition Management Expands Global CapabilitiesMarch 23rd, 2009 SAN FRANCISCO and LONDON - Business Volume Continues to Grow Rapidly for Award Winning Group
Mellon Transition Management (MTM), the transition management specialist
for BNY Mellon Asset Management, has announced the appointment of Tim
Wilkinson and his team of transition management professionals to its
award-winning global business. The seven-strong group joining MTM will be based in London, increasing
the global team representing the business to 50. BNY Mellon Asset Servicing Announces CAPS Pooled Pension Fund Update for February 2009March 23rd, 2009 LONDON - BNY Mellon Asset Servicing, the global leader in securities servicing,
has today announced the CAPS pooled pension funds performance results in the
UK for the month of February 2009. - Balanced pooled funds achieved a median return of -5.7% in February
2009 (-6.0% in January 2008)
- Over one, three and five years to 28 February 2009, Balanced pooled
funds returned -25.0%, -6.9% p.a. /C O R R E C T I O N -- BNY Mellon Asset Servicing/March 23rd, 2009 LONDON - In the news release, BNY Mellon Asset Servicing Announces CAPS Pooled Pension
Fund Update for February 2009, issued 24-Mar-2009 by BNY Mellon Asset
Servicing over PR Newswire, we are advised by the company that the first
bullet after the first paragraph, should read "Balanced pooled funds achieved
a median return of -5.7% in February 2009 (-6.0% in January 2009)" rather
than "January 2008" as originally issued inadvertently. The complete,
corrected release follows:
BNY Mellon Asset Servicing, the global leader in securities servicing,
has today announced the CAPS pooled pension funds performance results in the
UK for the month of February 2009.
Related News Fluor completes multibillion-dollar joint venture project in KuwaitAugust 27th, 2009 Fluor completes joint venture project in KuwaitIRVING, Texas — Fluor Corp. completed a multibillion-dollar project for a joint venture with Dow Chemical Co. Head of shoemaking firm has over 700 pairs herselfJanuary 30th, 2009 LONDON - Italian shoe brand Jimmy Choo's president Tamara Mellon has confessed that she has over 700 pair of shoes. 'I probably have 700 to 800 pairs as I have always loved shoes and I became particularly obsessed by them in the early nineties,' vogue.co.uk reports Mellon as saying. Sachin Pilot visits Delhi, NCR post offices to see upgradationJuly 21st, 2009 NEW DELHI - Minister of State for Communications and Information Technology Sachin Pilot Tuesday visited post offices in Delhi and NCR which had undergone upgradation under Project Arrow. He visited Patparganj post office for inspection and Ghaziabad head post office for interacting with its staff. Tamil Nadu sanctions Rs.550 crore for Chennai MetroJune 10th, 2009 CHENNAI - The Tamil Nadu government has sanctioned Rs.550 crore for the first phase of the Chennai Metro Rail project, Deputy Chief Minister M.K. Stalin said here Wednesday. Unique identity cards to all citizens by 2011: ChidambaramSeptember 21st, 2009 CHENNAI - Union Home Minister P Chidambaram said on Monday that the proposed unique multi-purpose national identity cards would be issued to all citizens of the country by 2011. Speaking to newsmen here, Chidambaram informed that in the first phase during the current fiscal, 1.2 crore people in about 3,331 coastal villages and cities would receive the cards. BSF completes fencing of 1,800 Kilometer along Indo- Bangla borderJuly 12th, 2009 NEW DELHI - Fencing of about 1,800 kilometers along the Indo-Bangla border has been completed under Phase-II of the project, Border Security Force (BSF) issued statement informed here on Sunday.he BSF also says that infiltration and cross border movement of militancy along porous stretch of border in Meghalaya and Assam continues to raise concerns. The statement stated that BSF had planed to complete 2,579.22 kilometer of border fencing and 1,422.45 kilometer of road construction along the border under Phase-II at a cost of Rs 4,393.67 crore by 2010. John Wiley & Sons elects former Bank of NY Mellon executive to boardSeptember 17th, 2009 John Wiley & Sons elects ex-banker to boardHOBOKEN, N.J. — A former bank executive has been elected to the board of directors of John Wiley & Sons Inc., the business publisher said Thursday. Jai Balaji gets land for West Bengal steel projectDecember 28th, 2008 KOLKATA - The West Bengal government Monday allotted 748.97 acres to Jai Balaji Industries for setting up a five-million-tonne integrated steel plant at Raghunathpur in Purulia district. 'We will get another 250 acres over and above this within the next 10-15 days,' company chairman and managing director Aditya Jajodia said after receiving the land allotment order from state industries minister Nirupam Sen. 'Ecospace' business park inaugurated in KolkataSeptember 23rd, 2009 KOLKATA - Ambuja Realty Wednesday inaugurated the first phase of its 'Ecospace' business park on the northeastern fringes of the city. Harshavardhan Neotia, chairman of the company, said at the inauguration: "We have a plan to invest Rs.290 crore for the whole project. Dhunseri forays into IT, to create 7,000 jobsJanuary 18th, 2009 KOLKATA - The city-based Dhunseri group is making a Rs.130-crore (Rs.1.3-billion) foray into the IT infrastructure business, generating about 7,000 jobs, a top company company official said here Monday. 'For this twin tower project, we have tied up with the State Bank of India (SBI) for financing,' said Dhunseri chairman and managing director C.K.
|
|