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
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.
Contact:
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Paul
Patella
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BNY Mellon Asset
Servicing
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paul.patella@bnymellon.com
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+1 212 635
1378
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SOURCE BNY Mellon