BNY Mellon Appointed as Successor Depositary Bank by Banco Bradesco S.A.
September 01 2009 - 7:00AM
PR Newswire (US)
NEW YORK, Sept. 1 /PRNewswire-FirstCall/ -- BNY Mellon, the global
leader in asset management and securities servicing, has been
selected by Banco Bradesco S.A. (Bradesco) as the successor
depositary bank for its American depositary receipt (ADR) program.
Each Bradesco ADR represents one preferred share and trades on The
New York Stock Exchange (NYSE) under the symbol "BBD." Bradesco's
preferred shares trade on the Sao Paulo Stock Exchange (BOVESPA)
under the symbol "BBDC4." Bradesco offers a range of banking and
financial products and services in Brazil and abroad to
individuals, small to mid-sized companies, corporations and
institutions. Within its banking segment, Bradesco's products and
services include deposit-taking and lending, credit and debit
cards, and capital markets services. Within its insurance, pension
funds and certificated savings plans segment, Bradesco's offerings
include health, life, accident, automobile and property insurance,
individual and corporate pension plans, and certificated savings
plans. "For the first half of 2009, Bradesco was one of the most
actively traded Brazilian DRs both by trading volume and value,"
said Michael Cole-Fontayn, chief executive officer of BNY Mellon's
Depositary Receipt business. "As the depositary for nearly
three-fourths of all sponsored DR programs in the worldwide banking
sector, we will leverage our experience and expertise to help
Bradesco heighten its visibility in the secondary markets through a
set of customized action plans developed in conjunction with
Bradesco's IR team. We're confident these initiatives will enable
Bradesco to gain a more diversified shareholder base in the global
markets." BNY Mellon acts as depositary for more than 2,100
American and global depositary receipt programs, acting in
partnership with leading companies from 67 countries. With an
unrivalled commitment to helping securities issuers succeed in the
world's rapidly evolving financial markets, the Company delivers
the industry's most comprehensive suite of integrated depositary
receipt, corporate trust and stock transfer services. Additional
information is available at http://www.bnymellon.com/dr. BNY Mellon
is the corporate brand of The Bank of New York Mellon Corporation
(NYSE:BK). BNY Mellon 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 $20.7 trillion in
assets under custody and administration, $926 billion in assets
under management, services $11.8 trillion in outstanding debt, and
processes global payments averaging $1.8 trillion per day.
Additional information is available at bnymellon.com. This release
is for informational purposes only. BNY Mellon provides no advice
nor recommendation or endorsement with respect to any company or
securities. Nothing herein shall be deemed to constitute an offer
to sell or a solicitation of an offer to buy securities. Depositary
Receipts: Not FDIC, State or Federal Agency Insured; May Lose
Value; No Bank, State or Federal Agency Guarantee. DATASOURCE: The
Bank of New York Mellon Corporation CONTACT: Dori Flanagan,
+1-212-815-2291, , or Ligia Braun, +55-21-3219-2132, , or Joe
Ailinger, +1-617-722-7571, Web Site: http://www.bnymellon.com/
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