May 19, 2014

Manchester selected as BNY Mellon’s new global payment processing hub

Manchester selected as BNY Mellon’s new global payment processing hub

The BNY Mellon CHAPS team releasing the first payment to The Salford Foundation

BNY Mellon announced today that it has become a direct participant and shareholder in CHAPS, a UK payments system that processes and settles both systemically important and time-dependent payments in sterling. The company has selected its Manchester site as the global processing center for all CHAPS payments.

Michael Cole-Fontayn, BNY Mellon’s EMEA Chairman, opened the Manchester global processing center, and the first payment processed was to local charity Salford Foundation. The payment of £465 was raised by BNY Mellon employees through a dress down day, one of many fundraising activities taking place throughout the year.

Commenting on why BNY Mellon continues to expand and invest in its Global Delivery Centre in Manchester, Cole-Fontayn said: “Manchester has all the benefits and attractions of some of the most vibrant cities in the world. World class universities, excellent infrastructure and connectivity, a thriving cultural scene, a broadening range of job opportunities, all which act as a magnet for highly skilled professionals seeking a successful career and good quality of life.”

“Whilst we continue to grow, our focus today is more on the quality and complexity of roles posted here in Manchester, providing aspirational career paths for our people who enjoy working here and wish to develop their careers with us,” added Steve Hayes-Allen, Manchester Site Executive and Regional Head, Northern UK at BNY Mellon. “The launch of our new CHAPS facility in Manchester is clear evidence of this growing role complexity, as well as our company’s continued investment in the city.”