BNY Mellon Appointed as Successor Depositary Bank by Banco Bradesco S.A.
NEW YORK, Sept. 1 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has been selected by Banco Bradesco S.A. (Bradesco) as the successor depositary bank for its American depositary receipt (ADR) program. Each Bradesco ADR represents one preferred share and trades on The New York Stock Exchange (NYSE) under the symbol "BBD." Bradesco's preferred shares trade on the Sao Paulo Stock Exchange (BOVESPA) under the symbol "BBDC4."
Bradesco offers a range of banking and financial products and services in Brazil and abroad to individuals, small to mid-sized companies, corporations and institutions. Within its banking segment, Bradesco's products and services include deposit-taking and lending, credit and debit cards, and capital markets services. Within its insurance, pension funds and certificated savings plans segment, Bradesco's offerings include health, life, accident, automobile and property insurance, individual and corporate pension plans, and certificated savings plans.
"For the first half of 2009, Bradesco was one of the most actively traded Brazilian DRs both by trading volume and value," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipt business. "As the depositary for nearly three-fourths of all sponsored DR programs in the worldwide banking sector, we will leverage our experience and expertise to help Bradesco heighten its visibility in the secondary markets through a set of customized action plans developed in conjunction with Bradesco's IR team. We're confident these initiatives will enable Bradesco to gain a more diversified shareholder base in the global markets."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). 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 $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services $11.8 trillion in outstanding debt, and processes global payments averaging $1.8 trillion per day. Additional information is available at bnymellon.com.
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 The Bank of New York Mellon Corporation