BNY Mellon announced that it has been appointed by Bank Audi, the largest Lebanese bank by assets and one of the leading banks in the region, as the successor depositary bank for its global depositary receipt (GDR) program. Each Bank Audi GDR represents one ordinary share and trades on the Beirut Stock Exchange and the London Stock Exchange under the symbols “AUSR” and “BQAD,” respectively.
“As the largest Lebanese bank by assets, it is important for Bank Audi to collaborate with a leading partner like BNY Mellon, to support our global depositary receipts program,” said Dr. Freddie Baz, Bank Audi’s Vice-Chairman and Group Strategy Director. “We look forward to benefiting from their market leadership and working with their dedicated depositary receipts specialists.”
“We are excited to welcome Bank Audi, the largest depositary receipts program from Lebanon, to BNY Mellon’s depositary receipts group,” said Chris Kearns, CEO of BNY Mellon’s Depositary Receipts business. “BNY Mellon is firmly committed to supporting clients in the Middle East region, and we are the depositary bank for all Lebanese depositary receipts programs.”
BNY Mellon acts as depositary for 809 sponsored American and global depositary receipt programs as of Dec. 31, 2018, and has been supporting clients in the Middle East for over a century—with a dedicated business presence in Beirut since 1963. Acting in partnership with leading companies from over 55 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.
About BNY Mellon
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. As of December 31, 2018, BNY Mellon had $33.1 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). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.