LONDON, Oct. 18, 2016 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Nordea, to provide custody services for its U.S. debt and equity portfolios valued at over $7 billion1.
Nordea is the largest financial services group in Northern Europe2 by market capitalisation and has a leading position in corporate, institutional, retail and private banking. It is also the leading provider of life and pensions products to the Nordic and Baltic Sea region. The Swedish-based company has an extensive distribution network with approximately 650 branches, call centres across the region and highly competitive online and mobile banking platforms.
Joakim Gustafson, Head of Product & Network Management at Nordea Bank, said: "Following a thorough review process that included site visits to U.S. and EMEA locations for a short-list of qualified institutions, we selected BNY Mellon. We were impressed by their drive to 'go the extra mile' and ability to combine an impressive customer technology interface with a high-touch EMEA-U.S. service model. Another crucial factor is that BNY Mellon has U.S. market specialists available during the EMEA morning prior to the U.S. market opening."
"We look forward to expanding our existing relationship with Nordea, which is primarily with BNY Mellon Markets, to also include custody services," adds Daron Pearce, CEO of Asset Servicing in EMEA for BNY Mellon. "Nordea is among our most valued asset servicing relationships in the region and will be fully supported by our team in Copenhagen to ensure both timely and effective communication and solutions. We remain committed to further enhancing solutions for our Nordic clients, notably demonstrated by the biggest technology transformation in our history with NEXEN, our new open source, cloud-based technology platform. NEXEN will enable us to anticipate and deliver on client needs like never before."
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.
1 Source: Nordea, December 16, 2015.
2 Source: http://www.nordea.co.uk/1578492.html?returnPid=910010
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SOURCE BNY Mellon