NEW YORK, June 14, 2016 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been awarded a contract from the U.S. General Services Administration (GSA) that enables the company to offer an integrated suite of loan servicing and related support services to a wide range of federal agencies that maintain credit programs such as direct loans and loan guarantee programs.
The contract, awarded under the loan servicing and asset management category, provides for BNY Mellon to deliver services through Colson Services Corp., a wholly owned subsidiary.
"Federal agencies seeking a financial services provider can shorten the procurement process by utilizing approved contractors such as BNY Mellon that have obtained GSA contracts rather than going through alternative procurement processes," said Robert L. Griffin, president of Colson and a managing director in BNY Mellon's Corporate Trust group.
Colson Services Corp., a wholly owned subsidiary of BNY Mellon, is an independent third-party provider of customized solutions for federal government agencies operating loan and loan guaranty programs.
BNY Mellon is a leading provider of corporate trust services to the debt capital markets, offering customized and market-driven solutions to investors, bondholders and lenders. As of March 31, 2016, BNY Mellon Corporate Trust served as trustee and/or paying agent on more than 58,000 debt-related issues globally. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services including trustee, paying agency, fiduciary, escrow, and other financial services. The business administers a wide array of assets and types of programs to multinational corporations, financial institutions, governments and their agencies, and the banking, securities, and insurance industries.
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 and more than 100 markets. As of March 31, 2016, BNY Mellon had $29.1 trillion in assets under custody and/or administration, and $1.6 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.
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SOURCE BNY Mellon