BNY Mellon Corporate Trust Tops Trustee Rankings for Third Quarter of 2009
December 02 2009 - 9:30AM
PR Newswire (US)
NEW YORK, Dec. 2 /PRNewswire-FirstCall/ -- BNY Mellon Corporate
Trust was the number one overall trustee for all U.S. debt for the
third quarter of 2009, according to Thomson Reuters, a leading
source of intelligence information for financial markets. The
company's top trustee ranking encompasses market share positions
across all significant U.S. debt categories, including long-term
municipal, investment grade, high yield, asset-backed and
mortgage-backed debt. In the first nine months of 2009, BNY Mellon
Corporate Trust was appointed on 1,077 debt transactions valued at
$474.6 billion in proceeds and accounting for 30.1% of that overall
market. Despite continued market weakness and a 18.3% year over
year decline in the number of bond issues coming to market, the
company continued to increase its market share across a variety of
debt segments, particularly in the structured debt category, where
it captured 33.8% of new deals, representing a 4.5% point increase
in market share from the same period in 2008. "We continue to post
market share gains, which validates our client's confidence in our
financial strength and stability and our expertise across all debt
segments," said Scott Posner, chief executive officer of BNY Mellon
Corporate Trust. "These results demonstrate our clear market
leadership in the United States and our ability to consistently
outperform for our clients." BNY Mellon Corporate Trust services
nearly $12 trillion in outstanding debt from 58 locations in 20
countries. Its clients include governments and their agencies,
multinational corporations, financial institutions and other
entities that access the global debt capital markets. The corporate
trust business utilizes its global footprint and expertise to
deliver a full range of issuer and related investor services and
develop customized and market-driven solutions. Its range of core
services includes debt trustee, paying agency, escrow and other
fiduciary offerings. Corporate trust providers are appointed by
debt issuers as well as fund and collateral management institutions
to perform a variety of services related to debt and collateral
administration, safekeeping, direct cash and investment management,
portfolio and transparency analytics, reporting, and final asset
disposition and distribution activities, as well as a full range of
structured solutions. 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. 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 $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 http://www.bnymellon.com/. DATASOURCE: BNY Mellon
CONTACT: Kevin Heine, +1-212-635-1590, Web Site:
http://www.bnymellon.com/
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