BNY Mellon Asset Servicing Appointed by Hungary's MKB Bank to Provide Global Custody Services
January 05 2010 - 5:08AM
PR Newswire (US)
LONDON, Jan. 5 /PRNewswire-FirstCall/ -- BNY Mellon Asset
Servicing, the global leader in securities servicing, has been
selected by MKB Bank Zrt. (MKB) as global custodian for more than
EUR725 million ($1 billion) in assets across 20 markets. One of the
premier universal banks in Hungary, MKB is a leading local
securities servicing provider with a particularly strong track
record in supporting the Hungarian pension fund industry. In
addition to a high proportion of pension fund assets, MKB's foreign
portfolio consists of a cross-section of Hungarian-domiciled mutual
funds, insurance assets, and retail customers. Zsuzsanna Bereczki,
Managing Director responsible for treasury and asset management at
MKB Bank, said the appointment will allow MKB to combine its local
expertise with BNY Mellon's global capabilities in order to deliver
a truly global securities servicing offering to Hungary's
investment community. Bereczki added: "We were looking for a
provider that would allow us to expand our custody network and
access a broader range of services while enhancing the scope of
custody-related value added products we can offer to our clients.
With its commitment to long-term partnership, BNY Mellon will play
a key role in our successful implementation of that two-pronged
strategy." Nadine Chakar, Executive Vice President and Head of
Europe, Middle East & Africa (EMEA) at BNY Mellon Asset
Servicing, said: "Expectations around the future growth and
influence of the Hungarian market are high, and as a leading local
player MKB is extremely well-placed to benefit from those trends.
It is a great credit to the commitment and creativity within our
team that MKB has chosen BNY Mellon as its global custodian and we
look forward to working closely with the bank to help it meet its
long-term goals." Notes to editors BNY Mellon Asset Servicing
offers clients worldwide a broad spectrum of specialized asset
servicing capabilities, including custody and fund services,
securities lending, performance and analytics, and execution
services. BNY Mellon is the corporate brand of The Bank of New York
Mellon Corporation. 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/
About MKB Bank Operating since 1950, MKB Bank is one of the oldest
members of the Hungarian bank system and the fourth largest
financial institution on the domestic market on the basis of its
balance sheet total. Being the defining member of the BayernLB
Group in the CEE region, MKB targets the most considerable domestic
and multinational companies, quality medium size companies with
perspective, the upper and middle retail customer segments and
small enterprises with its financial products and services.
DATASOURCE: BNY Mellon Asset Servicing CONTACT: Louisa Bartoszek of
BNY Mellon Asset Servicing, +44 20 7163 2826, Web Site:
http://www.bnymellon.com/
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