Our Clients
An Alliance Powering the
Greater Good
TIME TO READ: 3.5 MINUTES
How Nationwide Financial provides safety and security for families through a trusted relationship with BNY Mellon
In 1926, Nationwide was established to provide farmers with good value for low-cost car insurance. Nationwide has since grown to become one of the largest insurance and financial services companies in the world by continuing to find ways to protect people and the things they care about most.
Going Beyond Insurance
As the world’s largest custodian and a highly rated financial institution, BNY Mellon has been entrusted with the safekeeping of Nationwide’s policyholder assets since 1996, helping to secure the funds available for Nationwide to deliver on its promise to their clients.
“The relationship between BNY Mellon and Nationwide is more than a business,” said John Carter, president and COO of Nationwide Financial. “BNY Mellon brings investment expertise, risk management and creativity so that the solutions Nationwide offers are innovative and effective for our clients.”
Highlights
Since 1996, BNY Mellon Asset Servicing has been the custodian for Nationwide’s general account assets
Leveraging investment management expertise, BNY Mellon provides investment strategies for Nationwide Funds
The shared values of both companies are evident in their mutual support of Nationwide Children's Hospital and its mission to provide health equity and the highest quality care for all children
The relationship between BNY Mellon and Nationwide is more than a business.
— John Carter, President and COO of Nationwide Financial
Investment Strategy and Brokerage Platform Collaboration
Leveraging a global view that includes unique insights and thinking, BNY Mellon provides investment stewardship and platform strategies for Nationwide.
“What matters to Nationwide matters to us,” said Vincent Pacilio, BNY Mellon executive vice president, Global Client Management. “BNY Mellon brings the power of our investment management expertise to help design investment products that enable Nationwide’s customers to achieve their financial objectives and, ultimately, success.”
The firm is also helping Nationwide modernize its investor platform, allowing investors to access tools and investment products that inform better investment decisions.
Founded
1926
Headquarters
Columbus, OH
Original Name
Farm Bureau Mutual
Automobile Insurance Company
Number of Employees
25,000+
BNY Mellon brings the power of our investment management expertise to help design investment products that enable Nationwide’s customers to achieve their financial objectives and, ultimately, success.
— Vincent Pacilio, BNY Mellon Executive Vice President, Global Client Management
A Place Where the Mission Comes to Life
BNY Mellon and Nationwide’s shared commitment to make a difference in their communities comes to life through their support of Nationwide Children’s Hospital in Columbus.
Founded in 1892, Nationwide Children’s is one of the largest nonprofit pediatric healthcare and research institutes in the U.S. Families travel from around the world for the unique, specialized care their children need to treat complex conditions.
An additional challenge for many families is contending with mounting medical bills. “The hospital provides critical care to every child regardless of their ability to pay,” Carter said. “Since 2006, the Nationwide Foundation has provided over $140 million in funding for research and resources.”
As an extension of this working relationship, BNY Mellon facilitates funding to Nationwide Children's in coordination with the Nationwide Foundation.“Our business relationship is strong, and is enhanced by our involvement and support of Nationwide Children’s and its mission,” Pacilio said.
Elaine Mardis, Ph.D., co-executive director of the Steve and Cindy Rasmussen Institute for Genomic Medicine at Nationwide Children’s, sees the impact firsthand. “Our work would not be possible without the support afforded by the Nationwide and BNY Mellon relationship,” said Dr. Mardis. “These generous funds support how genomics can be integrated into the practice of medicine, enabling us over time to change pediatric care from being reactive to proactive.”
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A Shared Vision for the Future
The BNY Mellon team continues to be driven to help Nationwide deliver on their commitment to individuals and families.
“I have been working with Nationwide as long I have been with BNY Mellon,” Pacilio said. “It’s very humbling to be part of an organization that means so much to its community. And working with the hospital and seeing what they do makes me feel very proud.”
Business relationships gather strength when built on trust united in delivering valuable services aligned around common goals. This bond has linked Nationwide and BNY Mellon for many years and will continue to drive both firms to find new solutions together well into the future.