NEW YORK, May 8, 2019 /PRNewswire/ -- BNY Mellon today announced that the Microsoft Corporation (Microsoft) has selected BNY Mellon as global custodian for its Treasury, which manages $130 billion in assets. The transition, which was completed in November, marks the first time in almost a decade that Microsoft has changed custodian. As its new custodian, BNY Mellon will offer a complex cross-business bundle of services, including: custody, collateral management, performance measurement and liquidity services—all of which will target Microsoft's corporate cash portfolio needs.
"We are very excited to begin a new chapter in our relationship with Microsoft and are confident that we will be able to help its Treasury business continue to simplify its processes," said Hani Kablawi, CEO of Asset Servicing at BNY Mellon. "Our fully integrated global client technology ecosystem will deliver a sophisticated solution that is both flexible and reliable to meet Microsoft's needs."
BNY Mellon's platform will service Microsoft's global custody, collateral management, derivatives processing, institutional accounting and foreign exchange needs. By leveraging its selection of APIs, applications, and seamless access to third-party technology providers, BNY Mellon's platform will allow Microsoft to optimize its resources and continue to leverage industry best practices. In addition, Microsoft will benefit from BNY Mellon's extensive intellectual capital and industry experience with executing large-scale implementations and aligning technology solutions with clients' business needs.
"As we considered a new strategic provider, we looked for a single operating platform which could automate key processes and help us be more efficient," said George Zinn, Corporate Vice President & Treasurer of Microsoft. "We look forward to continuing to collaborate with BNY Mellon and grow the relationship, including the use of technologies like Microsoft Teams as the hub for managing and collaborating on this project."
For more information on BNY Mellon's asset servicing capabilities, visit bnymellon.com.
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. As of March 31, 2019, BNY Mellon had $34.5 trillion in assets under custody and/or administration, and $1.8 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.
SOURCE BNY Mellon