LONDON, June 27, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Valtion Elakerahasto (VER), The State Pension Fund of Finland, to provide global custody for all of VER's direct equity and fixed-income instruments, which are valued in the region of EUR 7.5 billion.
BNY Mellon's ability to provide a straight-through processing interface to VER's existing technology platforms was one of a number of factors that influenced the pension fund's decision.
General Counsel Mrs. Tiina Tarma at VER, said: "We initiated a transparent review of global custody service providers which ranked candidates on a weighted basis across a range of key criteria. A thorough analysis of the results saw BNY Mellon returning the highest overall score and accordingly we have selected the company to be VER's new global custodian."
Hani Kablawi, head of Asset Servicing for Europe, the Middle East & Africa at BNY Mellon, said: "We are strongly committed to supporting our clients in Finland, and our track-record underlines our ability to offer leading European institutions like VER a compelling mix of innovative solutions, high quality service, local expertise and global insight."
Notes to editors:
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safekeeping assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.
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 March 31, 2014, BNY Mellon had $27.9 trillion in assets under custody and/or administration and $1.6 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). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.
Contact: Tim Steele
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This press release is issued by The Bank of New York Mellon to members of the financial press and media. All information and figures source BNY Mellon unless otherwise stated as at March 31, 2014. The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818. Branch office: One Canada Square, London E14 5AL. The Bank of New York Mellon is supervised and regulated by the New York State Department of Financial Services and the Federal Reserve and authorised by the Prudential Regulation Authority. The Bank of New York Mellon London branch is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
SOURCE BNY Mellon