MELBOURNE, Australia, June 25, 2013 /PRNewswire/ -- National Australia Bank and BNY Mellon have strengthened their relationship to deliver a comprehensive range of asset servicing products and services to Australian institutional investors.
This new alliance reaffirms NAB's and BNY Mellon's long-standing custody relationship and will offer additional support to customers of both firms, as well as the opportunity to introduce an expanded suite of products and services.
NAB and BNY Mellon have a long and successful history working together. For almost 20 years they have shared a custody relationship whereby BNY Mellon is NAB's primary global custodian for offshore assets and NAB is BNY Mellon's primary sub custodian for Australian and New Zealand assets.
This new alliance builds upon that solid foundation and brings together BNY Mellon's global strengths with NAB's extensive local expertise.
Christine Bartlett, Executive General Manager of NAB's Asset Servicing business said the new alliance encompassed the broad range of asset servicing capabilities both organisations bring to market.
"NAB Asset Servicing is the largest custodian in the Australian market, backed by the strength of NAB's AA-rating, with a great deal of experience and a strong capability in domestic service.
"Building on our custody relationship and entering into a new alliance with BNY Mellon, who is the largest global custodian in the world, will help us support our clients in Australia and New Zealand to achieve their growth ambitions," Ms Bartlett said.
Danny McGrady, Country Executive for Australia at BNY Mellon, said this alliance demonstrated BNY Mellon's long term commitment to the Australian market.
"Australia has long been an important market for BNY Mellon's asset management and investment services businesses, largely a reflection of the continuing growth in superannuation savings," said Mr McGrady. "This alliance with NAB is another step in our long term commitment to Australian investors and enhances our position with the institutional market."
"Our two companies have enjoyed a strong relationship for almost two decades; accordingly we know each other's organisations and cultures well. We believe that together we have a compelling offering which can provide local capabilities for our global clients in Australia, and world class capabilities for Australian investors globally," added Mr Samir Pandiri, chief executive officer, BNY Mellon's asset servicing business.
National Australia Bank Limited is an international financial services organisation. One of Australia's biggest banks and largest listed institutions, NAB manages relationships with retail, corporate and institutional clients, and financial organisations internationally. A strong balance sheet has helped rank us as the safest Australasian bank and 16th overall World's safest bank in Global Finance Magazine's World's 50 Safest Banks.
NAB Group's operations in Asia, Australia, New Zealand, the United Kingdom and the United States serve over 10 million banking and wealth management clients, providing access to international financial markets and an extensive range of specialised funding, liquidity, investment, asset services and risk management capabilities. Strong international relationships combined with the local market knowledge of over 40,000 employees in more than 1,800 branches and service centres, help us deliver efficient results worldwide.
About BNY Mellon
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 US$26.3 trillion in assets under custody and/or administration, and US$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.
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.
BNY Mellon has been active in Australia for more than 30 years, delivering a variety of investment management, payment, trustee, depositary receipt, clearing and global custody services to Australian banks, institutional investors, listed corporations and broker-dealers. The company's Australian offices are located in Sydney, Melbourne and Rosebery.
 Comparison of long-term credit ratings and total assets of the 500 largest global banks (World's 50 Safest Banks report, Global Finance Magazine, 2013).
SOURCE BNY Mellon