March 02, 2015

BNY Mellon signs Armed Forces Corporate Covenant

Corporate Covenant Signing

“Organizations that openly recognize the experience and training of military personnel are hugely valued by those from the Armed Forces.”


BNY Mellon has signed the British Armed Forces Corporate Covenant at an official signing ceremony held at Ministry of Defence’s (MoD) London headquarters. The Covenant was co-signed by Michael Cole-Fontayn, EMEA Chairman at BNY Mellon and General Sir Nicholas Carter KCB, CBE, DSO, ADC Gen in his role as Chief of the General Staff.

The Armed Forces Corporate Covenant sets out the moral obligation of society towards members of the Armed Forces community in the UK and overseas. It provides a mechanism for communities to express support for members of the Armed Forces community and is designed to allow businesses and charitable organizations to express their support, and commit to ways in which they can provide that support.

By signing, BNY Mellon pledges to support the British Armed Forces, by upholding the Covenant’s key principles, which are:

  • No member of the Armed Forces Community should face disadvantage in the provision of public and commercial services compared to any other citizen
  • In some circumstances special treatment may be appropriate especially for the injured or bereaved

Through the Corporate Covenant, BNY Mellon has pledged to support service leavers in a number of ways during their transition from the services to civilian life. One of which is BNY Mellon’s Returning Military Programme, a six-week employment experience designed to broaden their knowledge and understanding of the financial services industry and to enhance career management skills in the corporate environment.

In addition, the company will also hold ‘Insight to Industry Days’ to provide information on the range of career fields and key skill sets within the financial services industry and encourage support for military charities through active fundraising.

Much of the internal support provided is channeled through VetNet, one of BNY Mellon’s Employee Resource Groups which was established in 2014. VetNet exists to promote the professional development and advancement of veterans and members of the broader military family and today has a membership of approximately 600 people across six regional chapters in the US and UK. 

“Many of our employees are former military or have family members who have served,” said BNY Mellon’s Cole-Fontayn.  “Leavers of the Armed Forces are hugely appealing candidates to any type of company, particularly those where a collaborative ethos, a highly organized approach to projects and the ability to work under pressured conditions are of importance to a role.  We hope that by signing the Covenant, more leavers of the Armed Forces will consider seeking a career at BNY Mellon.”

“Leaving the Armed Forces is an exciting time for many military personnel, but it also brings with it a sense of trepidation as we step into new careers in the civilian world,” notes Tim John, ex-BNY Mellon Returning Military Programme 2014 and employee of BNY Mellon subsidiary, Pershing. “Organizations that openly recognize the experience and training of military personnel and are prepared to offer opportunities to those transitioning to civilian employment are therefore hugely valued by those from the Armed Forces.”