LONDON and JERSEY CITY, N.J., Oct. 27 /PRNewswire/ -- U.K.-based Equiniti and U.S.-based BNY Mellon Shareowner Services announced today that they have entered into discussions regarding the formation of an alliance that will enable the companies to provide enhanced product offerings to clients of both organizations.
The alliance between the two companies will be able to provide BNY Mellon Shareowner Services' multinational clients with share registry, employee stock plan, and corporate action solutions in the United Kingdom, with Equiniti's client base enjoying access to BNY Mellon Shareowner Services' suite of transfer agency, employee stock plan and corporate actions solutions in the United States.
Part of BNY Mellon's Issuer Services group, Jersey City-based BNY Mellon Shareowner Services is the leading provider of corporate equity solutions and employee share plan administration in the United States. Equiniti is the United Kingdom's leading provider of share registration services, employee share plan administration and business process outsourcing (BPO) solutions, serving 54 percent of FTSE 100 clients.
"BNY Mellon is the premier transfer agent in the United States. Our strategic focus is on U.K. public companies, and our clients will benefit from BNY Mellon's industry-leading experience, extensive product offerings and local on-the-ground operations," said Wayne Story, Chief Executive Officer of Equiniti. "Providing access for our clients to the most highly rated financial institution in the U.S. is an exciting proposition for us. This fits with our strategy of developing strategic alliances across all the markets we operate within."
"This alliance is an important step in our objective to deliver integrated, global solutions through leading local providers to our clients," said Samir Pandiri, chief executive officer of BNY Mellon Shareowner Services. "We are pleased to align with Equiniti, a market leader with a strong track record and exceptional reputation serving some of the largest public and private institutions in the U.K. Our two firms have complementary product offerings in two major markets, and both organizations bring unique benefits to our alliance."
Notes to Editors:
Equiniti is one of the UK's leading providers of share registration, retail investor services and employee benefits, acting for over 50% of the FTSE 100 companies and 40% of the FTSE 250. Equiniti is responsible for 17 million shareholder accounts and over 3 million employees. It is part of the Equiniti Group, which is also a leading specialist provider of pensions administration and payments services. The Equiniti Group serves over 1,700 clients, has combined revenues of over 300 million pounds Sterling, and makes payments totaling over 11 billion pounds per annum to pensioners, dependents and annuitants in over 180 countries worldwide.
BNY Mellon Shareowner Services is a world-class provider of corporate equity solutions for more than 2,100 institutional clients representing 35 million shareowner accounts worldwide, and administers employee stock plans with more than 2.7 million participants.
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, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.
SOURCE BNY Mellon; Equiniti