FRANKFURT, Germany, Nov. 6, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been selected by Allianz Bank Bulgaria to provide global custody services.
Allianz Bank Bulgaria is a subsidiary of Germany's Allianz Group and acts as an intermediary for its parent's four other Bulgarian financial service companies: Allianz Bulgaria Insurance Company, the country's leading P&C1 insurer; Allianz Bulgaria Life, the country's leading life insurance company; Allianz Bulgaria Pension Company, the second-largest provider of retirement products by assets held; and Allianz Leasing Bulgaria.
Svetoslav Gavriiski, CEO of Allianz Bank Bulgaria, said: "BNY Mellon's global coverage and innovative solutions make it the ideal partner for us. Our own close collaboration with BNY Mellon, as well as its existing strong relationships across the Allianz Group as a whole, will ensure that we can further optimise our processes and so focus more closely on our core business."
Christopher Porter, Regional Executive for Central & Southeastern Europe at BNY Mellon, said: "This new mandate presents BNY Mellon with a welcome opportunity to enhance Allianz Bulgaria's own local market product offering via our core investment services capabilities, while further expanding our global cooperation with the Allianz Group itself. We recognise considerable growth potential in Allianz's regional strategy and are very pleased to be a part of that story by helping them to meet their goals."
1 Property & Casualty
Notes to editors:
BNY Mellon has been serving clients in Germany since 1931. The company opened its first office in Frankfurt in 1972. Following its acquisition in August 2010 of BHF Asset Servicing and Frankfurter Service KAG, the company now has almost 600 employees in Germany. In addition to asset servicing, depotbanking, fund administration and asset management, BNY Mellon is active in Germany in the areas of corporate trust, treasury services, collateral management, depository receipts and client management. It has over 200 institutional relationships in Germany, including more than 20 DAX-listed corporations, and offers regional coverage for 14 countries in the German speaking and Central Eastern and South Eastern European region.
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 $27,9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes 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.
This press release is issued by The Bank of New York Mellon SA/NV to members of the financial press and media. All information and figures source BNY Mellon unless otherwise stated as at September 30, 2012. The Bank of New York Mellon SA/NV is a Belgian public limited liability company (societe anonyme/naamloze vennootschap), with V.A.T. number BE 0806.743.159 and company number 0806.743.159 Brussels RPM-RPR, with statutory address 46 Rue Montoyerstraat, B-1000 Brussels, Belgium, authorized and regulated as a credit institution by the National Bank of Belgium (NBB), and a subsidiary of The Bank of New York Mellon, a banking corporation organized under the laws of the State of New York, with head office at One Wall Street, New York, NY 10286, U.S.A. BNY Mellon Asset Servicing is the brand name of The Bank of New York Mellon SA/NV.
SOURCE BNY Mellon