NEW YORK, Nov. 28, 2016 /PRNewswire/ -- BNY Mellon has been appointed by Credit Suisse as the successor depositary bank for its American depositary receipt (ADR) program. Each ADR represents one share of Credit Suisse and will continue to trade on the NYSE under the symbol "CS."
Credit Suisse is a global private bank and wealth manager with investment banking capabilities. It provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich with operations in over 50 countries and 48,200 employees from over 150 different nations.
"Global financial services companies are among the best positioned issuers to determine a depositary bank's service quality," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipt business. "Credit Suisse's successor appointment of BNY Mellon is a testament to our people, our level of service, and our commitment to this business. We look forward to working with Credit Suisse's investor relations team to further expand their U.S. investor outreach efforts."
BNY Mellon acts as depositary for more than 2,600 American and global depositary receipt programs as of Sept. 30, 2016. Acting in partnership with leading companies from over 65 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.
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 and more than 100 markets. As of Sept. 30, 2016, BNY Mellon had $30.5 trillion in assets under custody and/or administration, and $1.72 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). Learn more at bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at bnymellon.com/newsroom for the latest company news.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee. BNY Mellon provides no advice nor recommendations or endorsement with respect to any company, security or products based on any index licensed by BNY Mellon, and we make no representation regarding the advisability of investing in the same.
SOURCE BNY Mellon