LONDON, Sept. 13, 2016 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Clal Insurance to provide global custody, cash management, foreign exchange and institutional accounting services for assets valued at over $7 billion.
Based in Tel Aviv, Clal Insurance is a leading Israeli insurance group offering a wide range of services and products to private and corporate customers, such as life and non-life insurance, health insurance, and pension and provident funds.
"The high quality of service and an established market presence were crucial when it came to our decision to appoint our new global custody service provider," said Anath Levin CIO at Clal Insurance group. "Working with BNY Mellon will help us achieve our ultimate goal which is to increase our operational efficiencies and improve our competitiveness within the Israeli market."
"Israeli financial services companies are growing their portfolios and expanding their foreign asset allocation," adds Christopher Porter, Managing Director and Regional Executive for Israel at BNY Mellon. "This trend is being driven by the growth of Israel's dynamic export-led economy, which is supported by its world-renowned high-tech and life science industries. BNY Mellon is seeing significant growth in assets under custody and management in Israel and we are working with our clients to support them with evermore sophisticated solutions for their global assets."
BNY Mellon has been active in the Israeli marketplace for over 50 years and provides a full range of investment management and investment services solutions to its clients in Israel.
Notes to editors:
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safekeeping assets and enhancing the administration of client investments through services that process, monitor and measure data from around the world, allowing clients to focus on the management of their investments. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.
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 35 countries and more than 100 markets. As of June 30, 2016, BNY Mellon had $29.5 trillion in assets under custody and/or administration, and $1.7 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). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
This press release is issued by The Bank of New York Mellon to members of the financial press and media.
All information and figures source BNY Mellon unless otherwise stated as at June 30, 2016.
The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818.
Branch office: One Canada Square, London E14 5AL. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the Federal Reserve and authorised by the Prudential Regulation Authority.
The Bank of New York Mellon London branch is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority.
Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
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SOURCE BNY Mellon