LONDON, January 7, 2011 — BNY Mellon Treasury Services today announced it has been named "Best Trade Outsourcing Bank" for the second year in a row from the leading industry publication, Global Trade Review ("GTR").
The award is part of GTR's "Leaders in Trade Awards 2010," an annual readers' poll, taken from 5,000 market participants from key banks, credit insurers, corporates, traders, law firms, brokers and consultants.
GTR attributed the award to BNY Mellon's ongoing development of bespoke solutions for its clients, as well as its consistency in service provision and thought leadership in the trade space. BNY Mellon's reputation as a strong partner in trade was clearly recognised by GTR's readers, with votes for the company far outnumbering those won by its nearest competitors.
"We don't expect clients to fit to a pre-set model for their outsourcing solutions," said David Cruikshank, executive vice-president and global head of BNY Mellon Treasury Services. "Our strength lies in our ability to combine technological innovation with a client-centric approach," Cruikshank explained, adding that the company does not compete for local business. "For regional banks uncomfortable with outsourcing to global banks that also compete for corporate business, this makes all the difference."
BNY Mellon Treasury Services advocates a more collaborative form of local-global bank partnership as part of its efforts to meet evolving market developments and client needs. "Research we conducted late last year indicated that there is a global appetite and capacity for such partnership," said Dominic Broom, managing director and head of market development for Europe, Middle East and Africa ("EMEA") for BNY Mellon Treasury Services. This research can be viewed in full at http://www.bnymellon.com/treasuryservices/index.html
Recognized as a strong regional player, BNY Mellon Treasury Services has extensive global capabilities to serve clients in all parts of the world.
"Our partnership approach and enhanced regional focus – particularly in EMEA and Asia Pacific – means that we are increasingly being viewed as a global player," said Alan Verschoyle-King, head of BNY Mellon treasury services Europe, Middle East and Africa. "As a result, we have shown solid growth in the past few years, which we expect to continue into 2011."
With locations in 34 countries on six continents and a network of more than 2,000 correspondent financial institutions, BNY Mellon Treasury Services delivers high-quality performance in global payments, trade services, cash management, capital markets, foreign exchange and derivatives. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 currencies. Processing more than $1.6 trillion in global payments on a daily basis, the company is a top-five participant in both the CHIPS and overall funds transfer markets, and is a recognized leader in the delivery of white-label treasury services solutions for banks and other large institutional clients.
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.