BNY Mellon Appointed as Depositary Bank by Banco do Brasil
December 02 2009 - 8:35AM
PR Newswire (US)
NEW YORK, Dec. 2 /PRNewswire-FirstCall/ -- BNY Mellon, the global
leader in asset management and securities servicing, has been
selected by Banco do Brasil as depositary for its American
depositary receipt (ADR) program. Each Banco do Brasil ADR
represents one common share and trades on the over-the-counter
(OTC) market. The common shares trade on the Sao Paulo Stock
Exchange (BOVESPA) under the symbol "BBAS3." Founded in 1808, Banco
do Brasil is the oldest active bank in Brazil and one of the oldest
in the Americas. In addition to providing traditional retail
banking services, Banco do Brasil sells insurance, underwrites and
sells bonds, conducts asset trading, offers investors portfolio
management services, conducts financial securities advising, and
provides markets analysis and research. "The establishment of this
DR program is an important milestone for Banco do Brasil. Through
an OTC-traded DR program, we hope to achieve greater visibility and
provide U.S. investors easier access to our shares," said Marco
Geovanne Tobias da Silva, investor relations officer of Banco do
Brasil. "We found a qualified and competent depositary in BNY
Mellon and look forward to capitalizing on the array of support
services they provide as we enter the U.S. capital markets." "We
look forward to working closely with Banco do Brasil on ensuring
their success story is heard by potential U.S. investors," said
Michael Cole-Fontayn, chief executive officer of BNY Mellon's
Depositary Receipts business. "As the world's leading depositary,
BNY Mellon will utilize its resources to develop long and mutually
beneficial partnership with Banco do Brasil and its investors." 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 unrivaled 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. Learn more 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 $22.1 trillion in assets under custody and
administration and $966 billion in assets under management,
services $11.9 trillion in outstanding debt and processes global
payments averaging $1.6 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: BNY Mellon CONTACT:
Dori Flanagan, +1-212-815-2291, ; or Joseph F. Ailinger Jr.,
+1-617-722-7571, Web Site: http://www.bnymellon.com/
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