BNY Mellon Asset Servicing Takes Top Honours in 2009 R&M Global Custody Survey
March 04 2009 - 5:37AM
PR Newswire (US)
LONDON, March 4 /PRNewswire-FirstCall/ -- BNY Mellon Asset
Servicing, the global leader in securities servicing, has been
ranked #1 overall in five categories - a feat matched by only one
other provider - and ahead of its peer group* in a further seven
categories in the latest annual R&M Survey of custody clients
and fund managers. BNY Mellon was ranked #1 overall in the
following categories: -- The Experts (respondents using five or
more custodians) -- USA -- UK Asset Owners -- USA Asset Owners --
USA Asset Managers It also finished in the overall Top Three and #1
within its peer group in these categories: -- North America (#2) --
Banks (#2) -- UK (#3) The company was also #1 within its peer group
in these additional categories: -- Overall -- Europe -- Asset
Owners -- Asset Managers [*Peer group: State Street, JPMorgan,
Northern Trust, Citigroup] The company elicited the second highest
number of client responses (121), compared to a median of 65
responses across other providers. Sample BNY Mellon client comments
included: -- "We have an established relationship and our custodian
always considers our needs and contacts us with any enhancement
that would be of value to us" -- "Very professional and thoughtful
in their approach" -- "BNY Mellon has been very effective,
especially in managing the risk to collateral cover for loaned
securities" -- "We have been consistently updated and reassured"
Richard Hogsflesh, Managing Director, R&M Surveys, said: "BNY
Mellon has demonstrated a high degree of consistency in some of the
toughest market conditions ever seen, as reported by the toughest
critics, the global fund manager community. To come top of the
'Experts' table is a very significant achievement." The R&M
Survey results follow BNY Mellon's strong showing in Global
Custodian magazine's 2008 Global Custody Survey - published in
January - in which BNY Mellon Asset Servicing received the highest
number of 'Top-Rated' recognitions (eight) and 'Best in Class'
awards (142) out of all surveyed firms. Jim Palermo, co-CEO of BNY
Mellon Asset Servicing, said: "We'd like to thank our clients for
their continued support and for this latest vote of confidence in
our organisation. Our success in this prestigious survey underlines
the strengths of our offering and shows that our continued focus on
quality and service excellence has once more been recognised by the
market. The R&M results are testament to the dedication of
everyone working within our Asset Servicing business during what
remain very testing times for our entire industry. "It is during
difficult times that, as a custodian, we have the opportunity to
shine. We can assure our clients that as their trusted partner we
will stand beside them and help them navigate through these
turbulent market conditions. As an extremely well-capitalised and
liquid company, we are ideally placed to offer institutional
investors a safe port in the storm. We remain fully committed to
the asset servicing business and to the continued reinvestment in
technology and intellectual capital that ensures our clients have
access to the broad range of innovative and flexible solutions that
they need today more than ever." The R&M Survey is based on
feedback from investment managers, pension funds and other
institutional global custody clients. The 2009 survey collected 845
responses worldwide, of which 764 were qualifying. Participants
were asked to rate global custody providers across a range of
service categories. Scores in each of these categories were then
combined to produce an overall ranking. Notes to editors BNY Mellon
Asset Servicing offers clients worldwide a broad spectrum of
specialised asset servicing capabilities, including custody and
fund services, securities lending, performance and analytics, and
execution services. BNY Mellon Asset Servicing offers its products
and services through The Bank of New York Mellon and other
subsidiaries of The Bank of New York Mellon Corporation. The Bank
of New York Mellon Corporation is a global financial services
company focused on helping clients manage and service their
financial assets, operating in 34 countries and serving more than
100 markets. The company 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
$20.2 trillion in assets under custody and administration, $928
billion in assets under management, services more than $11 trillion
in outstanding debt, and processes global payments averaging $1.8
trillion per day. Additional information is available at
http://www.bnymellon.com/ DATASOURCE: The Bank of New York Mellon
Corporation CONTACT: Tim Steele of The Bank of New York Mellon
Corporation, +44 20 7163 5850, Web Site: http://www.bnymellon.com/
Copyright