Supplier development manager honored for exceptional support of minority entrepreneurship

NEW YORK, July 13, 2011 — Claire Scanlon, head of BNY Mellon's Supplier Development Program, received the Minority and Women-owned Business Enterprise (M/WBE) Advocate of the Year Award from New York City’s Department of Small Business Services. The award, which recognizes Scanlon’s long-time work in this area and BNY Mellon’s support of minority entrepreneurship, was presented by New York City Mayor Michael Bloomberg last evening at Gracie Mansion during the City’s annual Neighborhood Achievement Awards event.

“With Claire leading the way, BNY Mellon’s strong sense of social responsibility has been an important asset to the city of New York for more than two centuries,” said Mayor Bloomberg. “The company’s proactive commitment to diversity and equality continues to help our city grow and flourish.”

The M/WBE Advocate of the Year Award honors an individual, business or organization that strengthens entrepreneurship opportunities among minorities and women through leadership to improve New York City’s small business outlook.

“For the past 16 years, BNY Mellon’s Scanlon has worked with thousands of suppliers and dozens of business development organizations in the greater New York City region to promote supplier diversity,” said Robert Walsh, commissioner of the New York City Department of Small Business Services. Scanlon, who has been instrumental to creating and sustaining BNY Mellon’s Supplier Development Program, promotes the use of minority-, women-, veteran-owned, and other certain qualifying small business enterprises throughout the company, and has recently launched an online registration portal for suppliers at bnymellon.com/suppliers.

In 2010, BNY Mellon awarded about 27 percent of its total competitive spending to diverse suppliers, reflecting a year-over-year increase of nearly $47 million. Minority- and women-owned business contracts alone accounted for nearly 12.3 percent of the company’s total competitive spending, an increase of 24 percent or some $63 million.

“The economic engine of so many communities is fueled by small, diverse businesses, and entrepreneurs,” said Gerald Hassell, president of BNY Mellon. “These enterprises shape our communities, foster innovation and promote economic independence. They deserve an opportunity to win business and that is why we put such a strong emphasis on creating a level playing field in our supplier development program and Claire has been a real champion to make sure it happens.”

Earlier this year, BNY Mellon joined New York City’s Department of Small Business Services and nearly a dozen corporations in a new Corporate Alliance Program, which connects certified minority-and women-owned businesses with contracting and capacity-building opportunities in the private sector.

BNY Mellon, the global leader in investment management and investment servicing, operates in 36 countries and serves more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.