LONDON, Jan. 15, 2014 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been named best trade outsourcing bank by Global Trade Review for the fifth consecutive year.
"Our repeated success in this category is proof that our collaborative approach continues to resonate with the market," says Alan Verschoyle-King, Global Head of Sales and Client Management, Treasury Services at BNY Mellon. "Our processing expertise, coupled with a global network of correspondent banks, means that we can combine local knowledge with global reach to help our clients minimise costs, expand their cross-border trade networks and harness the latest developments in technology. This combination has proven crucial to the success of our client banks and financial institution partners, and by extension our own business success."
"We work to develop trade processing solutions that can be tailored to market and client-specific concerns", adds Vince Galloni, Global Head of Trade Processing, Treasury Services at BNY Mellon. "Such flexibility is vital if our local bank clients and their own customers are to successfully connect the dots between where the market is heading and their individual business strategies. We also have the ability to help those clients that either don't have the in-house expertise to do this type of work or do not want to develop in-house expertise and carry the expense or regulatory burden of providing these solutions."
Global Trade Review (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. The GTR Leaders in Trade 2013 awards - which highlight achievements across a number of regions and product lines - were judged by the magazine's global and regional editorial boards. Board members were not permitted to vote for their own institutions. Full coverage of the 2013 awards will appear in the magazine's January/February issue.
This award was one of many won by BNY Mellon's Treasury Services team in 2013. It was awarded Best Transactional Bank in Europe, the Middle East and Africa by EMEA Finance, and three bronze awards for Best Trade Services Provider, Best Bank for Supply Chain Finance and Best Trade Bank in Latin America, at the Trade & Forfaiting Review Awards for Excellence.
Notes to editors:
With locations on six continents and an extensive global network of correspondent financial institutions, BNY Mellon's Treasury Services business delivers high-quality performance in global payments, trade services, and cash management. The company is a top-five participant in both the CHIPS and overall funds transfer markets, and is a recognized 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 September 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration and $1.5 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 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, 2013.
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