NEW YORK, Oct. 31, 2012 /PRNewswire/ -- As the U.S. starts to recover from the devastating impact and extensive damage along the East Coast caused by Hurricane Sandy, BNY Mellon and its employees have moved quickly to help those in need. The company plans to contribute at least $1 million to the American Red Cross, local food banks and agencies engaged to support basic urgent needs in the wake of the storm. BNY Mellon's Hurricane Sandy relief fund includes a $500,000 corporate gift and an additional $500,000 in matching funds available for disaster relief contributions made by its employees.
"Hurricane Sandy has impacted millions of lives and the relief response will be large and costly," said BNY Mellon Chief Executive Officer Gerald Hassell. "Our immediate investment in the American Red Cross will be used to support disaster relief efforts, especially in hard hit coastal communities, including New York City. Our commitment reflects a tradition that dates back to our founding in New York in 1784. Our employees have always moved quickly to help their neighbors in times of need."
BNY Mellon's own global business continuity planning efforts were activated well in advance of the hurricane. The company's priorities remain the safety and wellbeing of its employees, the security of clients' financial assets and the continuity of its businesses.
Hassell added, "As the U.S. markets reopen today, our company will continue to support our global clients, with local and out-of-region teams helping to provide extraordinary service."
Powering Potential, BNY Mellon's philanthropic focus, helps to make local communities better places to live and work by targeting organizations that concentrate on workforce development or the provision of basic needs. Learn more about this or the company's world-wide commitment to social responsibility at www.bnymellon.com/csr.
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. As of September 30, 2012, it had $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, serviced $11.6 trillion in outstanding debt and processed global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.
SOURCE BNY Mellon