AMSTERDAM, July 16, 2012 — BNY Mellon, the global leader in investment management and investment services, has been appointed by Menzis to provide custody and other value added services as part of a fully integrated servicing solution.
Based in Wageningen, Menzis is one of the leading health insurance companies in the Netherlands with approximately EUR2 billion in assets. BNY Mellon will record all unit holdings in Menzis' various pooled funds, its liquidity and return portfolio, and related underlying mandates. It will also provide consolidated fund accounting on a monthly basis.
Other services include:
- Cash transfer services
- Performance measurement and reporting
- Input for reporting to the Dutch regulatory authorities on a monthly basis, as well as Solvency II reporting
- Annual reporting for Menzis' three pooled funds
- Risk and compliance monitoring for those pooled funds as well as for Menzis' individual segregated mandates
- Maintenance of a register of unit participations of each of the legal entities in the three pooled funds
- Reconciliation of data with the fiduciary advisor as well as with the underlying managers to ensure accuracy of data
Ruben Wenselaar, CFO/CRO at Menzis, said: "We were looking for a stable partner in the asset servicing space. After a comprehensive review and process, we selected BNY Mellon. They clearly demonstrated progressive attitude and that they had the necessary skills and teams to support us in our business going forward. Being able to turn our data into information is key in today's markets and BNY Mellon is well placed through their online portal with advance interactive reporting, as well as simple cash authorisations through their iPad App."
Leonique van Houwelingen, Country Executive for the Netherlands, said: "After a thorough due diligence procedure, Menzis recognises our unique position in the Dutch market when it comes to supporting complex Fonds voor Gemene Rekening (FGR) pooled fund structures and insurance companies. We are very pleased to extend our footprint in the Netherlands with this new valued Dutch insurance client."
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. 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.
This press release is issued by The Bank of New York Mellon SA/NV to members of the financial press and media.
All information and figures source BNY Mellon International unless otherwise stated as at March 31, 2012.
The Bank of New York Mellon SA/NV is a Belgian public limited liability company (societe anonyme/naamloze vennootschap), with V.A.T. number BE 0806.743.159 and company number 0806.743.159 Brussels RPM-RPR, with statutory address 46 Rue Montoyerstraat, B-1000 Brussels, Belgium, authorized and regulated as a credit institution by the National Bank of Belgium (NBB), and a subsidiary of The Bank of New York Mellon, a banking corporation organized under the laws of the State of New York, with head office at One Wall Street, New York, NY 10286, U.S.A. BNY Mellon Asset Servicing is the brand name of The Bank of New York Mellon SA/NV.