132 'Best in Class' awards place company #1 amongst world's largest custodians; also receives eight 'Top Rated' awards
NEW YORK, January 19, 2011 — BNY Mellon Asset Servicing, the global leader in securities servicing, has been ranked the #1 provider in North America within its peer group of the world's largest global custodians and honoured with 132 'Best in Class'* awards in Global Custodian magazine's 2010 Global Custodian Bank Survey.
With 42 in the fund manager section and 90 in the institutional investor section, this total of 132 awards was the highest number received within BNY Mellon's peer group [which also includes State Street, JP Morgan, Citigroup and Northern Trust].
BNY Mellon was also named #1 provider overall [all providers] in the 'Less than $1 Billion' category and received eight 'Top-Rated'** recognitions in the survey.
Commenting on the results, Global Custodian's editors note: "A surge in responses has lifted scores and showcased the complexity of the business of the largest provider. As an institution puts it, [BNY Mellon] 'provides many valuable services under one umbrella,' and the survey does not even measure all of its strengths." They go on to add: "[BNY Mellon] is making good use of Eagle technology to insource fund management operations at a reassuring pace for clients."
In the institutional investor questionnaire, respondents were asked to answer 41 questions across 11 service categories, while the fund manager questionnaire included 39 questions across 14 categories. Client feedback included the following positive comments:
- "Strategic planning has been well thought out and executed"
- "Very good use of technology to help us monitor investment activity"
- "Response time has become one of its biggest strengths"
Tim Keaney, CEO of BNY Mellon Asset Servicing, said: "We are honoured to once again be 'Top Rated' across so many categories and to be awarded so many 'Best in Class' awards. I'd like to extend my thanks to our clients for their continued support and for this latest vote of confidence in our organisation. Our success in this prestigious survey demonstrates the dedication of our staff as well as the scope and strength of our offering.
"In the wake of the financial crisis, institutional investors and fund managers are looking for a committed partner who can provide a solutions-driven approach to securities servicing, and these results underline our continued focus on offering our clients the service excellence, global reach, flexibility and innovation they require if they are to continue to build their businesses and seize new opportunities in these difficult times."
Published for the 20th consecutive year, the Global Custodian survey of clients of global custodian banks ranked 10 providers worldwide based on 665 authenticated responses from institutional investors and fund managers.
* 'Best in Class' awards are given to those custodians whose scores are equal to or better than the global average score in each service category.
** 'Top Rating' is based on securing an average weighted score superior to the average weighted score for all providers in the survey within that category.
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, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.