Top Links You Must Click On
From the Wires
BNY Mellon Awarded Banking License in Brazil
License Will Allow Company to Enhance Securities Servicing Capabilities to Meet Client Needs
By: PR Newswire
Nov. 9, 2012 07:00 AM
RIO DE JANEIRO and NEW YORK, Nov. 9, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been granted a commercial banking license by the Brazilian Central Bank that will enhance the company's securities servicing capabilities in the country. The license has been granted to BNY Mellon Banco S.A.
With the new license, BNY Mellon will initially offer custody services for non-resident investors and private equity funds, as well as deposit-taking, collateral and agency services through its Corporate Trust business.
"Brazil represents one of our most important strategic markets globally and our new banking license will significantly enhance our ability to meet the securities servicing needs of our clients," said Gerald Hassell, chairman, president and chief executive officer of BNY Mellon. "We are confident that our commitment to Brazil will provide meaningful benefits to our clients, who value our financial strength, wide range of global services, and local expertise and experience."
"We have experienced outstanding growth in Brazil over the last decade and the new license reinforces our plans to continue to grow and invest in the country," said Zeca Oliveira, BNY Mellon's country executive in Brazil and CEO of the newly formed BNY Mellon Banco S.A.
BNY Mellon, which has more than 500 staff members in offices in Rio de Janeiro and Sao Paulo, currently holds local leadership positions in asset management and securities servicing, with more than $11 billion in assets under management, approximately $92 billion in assets under administration and 69% market share of Brazilian DR programs. The company offers a full range of asset management, asset servicing, wealth management, depositary receipts, treasury services, and corporate trust services to the Brazilian market.
Notes to Editors:
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on Twitter @BNYMellon.
Source: BNY Mellon as of 30 September 2012
SOURCE BNY Mellon
Enterprise Open Source Magazine Latest Stories . . .
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week