NEW YORK and PARIS, March 6, 2015 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Accor S.A., a leading hotel operator based in France, as depositary bank for its sponsored American depositary receipt (ADR) program. Accor previously traded in the U.S. as an unsponsored DR. Each sponsored ADR represents one-fifth of an ordinary share and trades on the OTC Markets under the symbol 'ACCYY.' Accor's ordinary shares trade on Euronext Paris under the code 'AC.'
With more than 3,700 hotels and 480,000 rooms, Accor caters to business and leisure travelers in 92 countries across all hotel segments: luxury-upscale with Sofitel, Pullman, MGallery, and Grand Mercure; midscale with Novotel, Suite Novotel, Mercure and Adagio; and economy with ibis, ibis Styles, ibis budget and hotelF1. The company's digital ecosystem includes its booking portal accorhotels.com, brand websites, and loyalty program Le Club Accorhotels.
"France is an important market for U.S. investors, and we'll work closely with Accor to help the company achieve enhanced visibility with this new sponsored DR program," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "We're committed to providing Accor with the resources and expertise they'll need to support investor outreach initiatives."
BNY Mellon acts as depositary for more than 2,800 American and global depositary receipt programs as of Dec. 31, 2014. Acting in partnership with leading companies from over 65 countries, BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Dec. 31, 2014, BNY Mellon had $28.5 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com, or follow us on Twitter @BNYMellon.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee. BNY Mellon provides no advice nor recommendations or endorsement with respect to any company, security or products based on any index licensed by BNY Mellon, and we make no representation regarding the advisability of investing in the same.
Contact: Joseph F. Ailinger Jr
+44 20 7163 4109
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SOURCE BNY Mellon