Regulatory and market changes driving renewed demand for new services
NEW YORK and LONDON, March 18, 2013 — BNY Mellon, the global leader in investment management and investment services, today announced it has expanded its global derivatives clearing leadership team with five new appointments in the United States and Europe.
Mark B. Gonzalez has been appointed as the US Chief Operating Officer for derivatives clearing services, based in New York.
Gregory Chemin has been appointed as the Business Head of derivatives clearing services, based in Frankfurt, Germany.
Paul Dex (London), John Guthrie (New York) and Thomas Twomey (New York) will lead the company's regional efforts to identify and develop new opportunities in the listed and over-the-counter (OTC) derivatives markets.
Sanjay Kannambadi, Global Head of Derivatives Clearing Services said: "Regulatory and market changes are driving strong interest globally from clients trading derivatives who are seeking a clearing partner with proven operational and market expertise. With an ever-greater percentage of derivatives transactions expected to be cleared through central clearinghouses, the addition of these respected individuals will enhance our ability to help clients understand and prepare for how their needs will evolve."
Brian Ruane, executive vice president at BNY Mellon, said: "The derivatives clearing market is undergoing rapid changes due to the mandatory clearing rules coming into play during 2013. The expansion of our leadership team underlines BNY Mellon's commitment to delivering a full-service derivatives clearing solution to our clients globally to help them understand and navigate the opportunities and challenges ahead."
BNY Mellon Clearing LLC is a registered futures commission merchant that clears derivative trades on behalf of BNY Mellon's institutional clients. It supports the trading activity of clients by providing clearing services with major exchanges and central clearinghouses.
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 36 countries and more than 100 markets. As of December 31, 2012, BNY Mellon had $26.2 trillion in assets under custody and/or administration, and $1.4 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.