BNY Mellon Appointed as Depositary by Temenos Group AG
NEW YORK, April 29, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Temenos Group AG as the depositary bank for its American depositary receipt (ADR) program. Each Temenos ADR represents one ordinary share and trades over-the-counter under the symbol "TMSNY." Temenos' ordinary shares trade on the Swiss Stock Exchange under the symbol "TEMN."
Temenos is a leading provider of banking software systems to retail, corporate, universal, private, Islamic, microfinance and community banks, wealth managers, and financial institutions. Headquartered in Geneva and with 59 offices worldwide, Temenos software is proven in over 1,500 customer deployments in more than 125 countries across the world.
"The U.S. is a key strategic market for Temenos, both operationally and in terms of our investor relations effort," said Max Chuard, CFO of Temenos. "Temenos has a long history of working with U.S. investors and, following the acquisition of TriNovus announced last month, is looking forward to taking this to the next level by building a successful ADR program in conjunction with BNY Mellon."
"We'll work with Temenos to develop and build a targeted outreach program aimed at American investors," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "Companies from around the world establish ADRs in the U.S. because it offers them a broader shareholder base and greater liquidity."
BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programs, acting in partnership with leading companies from 68 countries. BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or administration, and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at bnymellon.com, or follow us on Twitter @BNYMellon
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
SOURCE BNY Mellon