Exploring new opportunities for pan-European pension funds
NEW YORK, June 23, 2011 — Robert P. Kelly, Chief Executive Officer of BNY Mellon, has hosted His Royal Highness Prince Philippe of Belgium at a seminar on pan-European pension funds at the company's One Wall Street headquarters in New York as part of the current Belgian Economic Mission to the United States.
In his opening remarks to the seminar – entitled "Pan European Pension Funds, Now a Reality" – Bob Kelly highlighted Belgium's place at the centre of the European Union, and more specifically its pioneering role in establishing a dedicated and comprehensive framework for creating pan-European pension funds in accordance with existing European Commission directives.
"Pension funding is a top concern for all companies around the world," said Bob Kelly. "The establishment of pan-European pension funds will result in more efficiency, more financial gain and less operational risk. I am very pleased to see an active interest of US multinationals, and we are happy to provide our expertise in this matter throughout the European market."
Speakers including Steven Vanackere, Belgian Deputy Prime Minister and Minister of Foreign Affairs and Institutional Reforms, explained how the new framework benefits foreign companies by facilitating the creation of simpler, more efficient and more transparent pensions structures.
Prior to the seminar, Bob Kelly hosted an informal tour of BNY Mellon's One Wall Street offices for H.R.H. Prince Philippe and the Belgian delegation, during which time they shared their views on the global financial services industry.
The Belgian Economic Mission is visiting New York, Washington and Boston, and associated events will have been attended by more than 400 Belgian business leaders, making it by far the most successful such Mission to date.
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 $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 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.