PRNewswire
LONDON
(NYSE:BK)
Jan 15, 2009
LONDON, January 15, 2009 —BNY Mellon Asset Servicing, the global leader in securities servicing, has received the highest number of 'Top-Rated' recognitions and 'Best in Class' awards in Global Custodian magazine's 2008 Global Custodian Bank Survey.
BNY Mellon received eight Top Ratings in the survey. 'Top Rating' is based on securing an average weighted score superior to the average weighted score for all providers in the survey within that category.
In addition, BNY Mellon received 142 Best in Class awards in the survey (56 in the fund manager survey, 86 in the institutional investor survey), 29 more than the second placed provider. 'Best in Class' awards are given to custodians whose scores are equal to or better than the global average score in each service category.
In the survey league tables, BNY Mellon was ranked #1 overall (all providers) in the following categories:
Furthermore, within the smaller subset of its peer group*, the company was also ranked #1 in these additional categories:
[*State Street, Northern Trust, JPMorgan, Citibank]
In the institutional investor questionnaire, respondents were asked to answer 40 questions across 14 service categories, while the fund manager questionnaire included 36 questions across 11 categories.
BNY Mellon's scores from fund managers were up in seven out of eleven service areas. In their write-up of the bank's results, the magazine's editors commented upon the bank's "outstanding score" for client service. Client feedback included the following positive comments:
Tim Keaney and Jim Palermo, co-CEOs of BNY Mellon Asset Servicing, said: "We are honoured to once again be 'Top Rated' across so many categories. We'd like to thank our clients for their continued support and for this latest vote of confidence in our organisation, and our staff for their unstinting efforts over the past year. Our success in this prestigious survey demonstrates the scope and strength of our offering and underlines our focus on service excellence, flexibility and innovation.
"In these difficult times, institutional investors are looking for a trusted partner to stand beside them and we can assure our clients that we remain wholly committed to the asset servicing business and to supporting them as they look to weather the current storm in the global financial markets."
Published for the 18th consecutive year, the Global Custodian survey of global custodian banks ranked 11 providers worldwide based on 682 survey responses received from institutional investors and fund managers.
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 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 $22.4 trillion in assets under custody and administration, approximately $1.1 trillion in assets under management and services approximately $12 trillion in outstanding debt. Additional information is available at www.bnymellon.com.