NEW YORK, Jan. 23, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by premium and luxury apparel maker HUGO BOSS AG as depositary bank for its sponsored American Depositary Receipt (ADR) program. Each HUGO BOSS AG ADR represents one-fifth of an ordinary share and trades on the over-the-counter market. HUGO BOSS AG's ordinary shares trade on the Frankfurt Stock Exchange under the symbol "BOSS."
The HUGO BOSS Group is a world market leader in the premium fashion and luxury segment of the apparel market. The Group focuses on developing and marketing high-end women's and men's fashion and accessories. Based in Metzingen, Germany with sales of EUR 2.1 billion in fiscal year 2011, the Group employs a workforce of approximately 11,000 and is among the world's most profitable apparel manufacturers.
"We are delighted to partner with BNY Mellon in establishing a sponsored ADR program," said Mark Langer, chief financial officer of HUGO BOSS. "We look forward to expanding our visibility and investor base within the U.S. capital markets via this ADR program."
"We'll work closely with HUGO BOSS to broaden its outreach to the global investment community, with the ultimate goal being diversification of its shareholder base by attracting more U.S. investors," said Christopher M. Kearns, deputy CEO of BNY Mellon's Depositary Receipts business.
BNY Mellon acts as depositary for more than 2,500 American and global depositary receipt programs, acting in partnership with leading companies from 68 countries. BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr
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. It has $26.7 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.4 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on Twitter @BNYMellon.
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 BNY Mellon