The Bank of New York Mellon Tops Trustee Rankings for First Quarter of 2009

PRNewswire
NEW YORK
(NYSE:BK)
May 21, 2009

NEW YORK, May 21, 2009 — The Bank of New York Mellon (NYSE: BK), the global leader in asset management and securities servicing, was the number one overall trustee for all U.S. debt for the first quarter of 2009, according to data compiled by Thomson Reuters, a leading source of intelligent information for businesses and professionals.

The Bank's top trustee ranking encompasses leadership positions across all significant U.S. debt segments, including long-term municipal, high yield, investment grade, structured and convertible debt.

The Bank of New York Mellon was appointed 151 issues valued at $205 billion in proceeds and accounted for 40% of the overall taxable market, a 14% increase in market share year-over-year. In the structured finance category, the company captured 54% of new ABS, MBS and CDO deals, representing a 30% increase in market share from the first quarter of 2008. In the tax-exempt category, the company continued in its role as top trustee securing 34% of all new issues and 42% of all proceeds issued in the quarter.

"This ranking, and the shift in our favor in market share, demonstrates a 'flight to strength' as issuers choose The Bank of New York Mellon for its financial stability and expertise," said Scott Posner, chief executive officer of The Bank of New York Mellon's Global Corporate Trust business. "Despite a nearly 15% decline in the number of bond issues coming to market, we continue to increase our market share across a variety of debt segments, particularly the taxable and tax-exempt categories."

The Bank of New York Mellon's corporate trust business services more than $11 trillion in outstanding debt from 57 locations around the world. It services all major debt categories, including corporate, municipal and sovereign debt, mortgage-backed and asset-backed securities, derivative securities and international debt offerings. The bank does not compete with investment banks and deal arrangers, which allows it to provide issuers, investors, borrowers and lenders with an independent and objective service for their transactions.

Corporate trust providers are appointed by corporations, municipal governments and financial institutions issuing debt to perform a variety of duties, including servicing and maintaining the debt issue, processing principal and interest payments for investors, representing investors in defaults, and providing value-added services for complex debt structures.

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 $19.5 trillion in assets under custody and administration, $881 billion in assets under management, and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.