LONDON, Jan. 20, 2015 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been named best trade outsourcing bank by Global Trade Review ("GTR") for the sixth consecutive year.
GTR's Leaders in Trade 2014 Awards polled its extensive database of financial institutions and corporates. These voters, which included companies engaged in cross-border trade activities, were asked to rate the best international financial institutions.
"Trade outsourcing is a core strategic business for BNY Mellon," said Vince Galloni, Global Head of Trade Processing, Treasury Services at BNY Mellon. "This award affirms our operational excellence in serving our clients, and is a testament to the expertise and collaboration of our technology, product and operations teams."
"Our recent trade processing partnership with Helaba and the G25 German Sparkassen is a great example of the importance of trade outsourcing to our client banks and the businesses they support," adds Ian K. Stewart, Chief Executive Officer of BNY Mellon's Treasury Services business. "BNY Mellon's role as an entry point for small and medium sized German businesses to trade with the Asia-Pacific region shows how we can leverage our capabilities, experience and global network of correspondent financial institutions, to support clients in other European Union countries and beyond."
BNY Mellon has three global trade processing centres which provide seamless, end-to-end management of transactional details, processing issues and critical trade information on a 'follow-the-sun' basis. These centres meet the trade service needs of clients while also helping them to control the increasing cost of staffing and non-core manual processing functions, such as overnight documentary examination.
GTR is an international trade finance magazine, read by and featuring the market's key banks, credit insurers, corporates, traders, law firms, brokers and consultants. Full coverage of the 2014 awards will appear in the magazine's January/February issue.
This award was one of many received by BNY Mellon's Treasury Services business in 2014. Those included best transactional bank for financial institutions in Europe, the Middle East and Africa from EMEA Finance; best bank trade services provider from Trade & Forfaiting Review; and best white label system provider for treasury & cash management services from Global Finance Magazine.
Notes to editors:
With locations on six continents and an extensive global network of correspondent financial institutions, BNY Mellon's Treasury Services group delivers high-quality performance in global payments, trade services and cash management. It helps clients optimise cash flow, manage liquidity and make payments more efficiently around the world in more than 100 countries. Processing payment transactions in over 120 currencies, the company is a top-five participant in both the CHIPS and overall funds transfer markets. Earlier this year, BNY Mellon launched its new global payments infrastructure which over time will process any payment on a single platform, anywhere – irrespective of its value, currency or clearing mechanism. The company is also a recognised leader in the delivery of private-label treasury services solutions for banks and other large institutional clients.
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 Sept. 30, 2014, BNY Mellon had $28.3 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). Learn more at www.bnymellon.com, or follow us on Twitter @BNYMellon.
This press release is issued by The Bank of New York Mellon to members of the financial press and media. All information and figures source BNY Mellon unless otherwise stated as at September 30, 2014. The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818. Branch office: One Canada Square, London E14 5AL. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the Federal Reserve and authorised by the Prudential Regulation Authority. The Bank of New York Mellon London branch is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
SOURCE BNY Mellon