LONDON, January 10, 2011 — BNY Mellon Trustee & Depositary (UK) has been appointed by Daiwa Fund Asset Services, a division of Daiwa Securities Group Global Asset Services, as a depositary for UK authorised funds within its fund hosting service.
Daiwa Fund Asset Services is extending its established hosting service for Irish-domiciled funds to include UK domiciled collective investment schemes targeted primarily towards institutional or high net worth investors.
Brian Guyett, Chief Executive of Daiwa Fund Asset Services, said: "BNY Mellon's team of highly respected and knowledgeable fiduciary service professionals possesses a wealth of experience when it comes to working with UK fund hosting arrangements. When combined with their commitment to client service, this was a significant influence on our decision to partner with them for our newly established service."
Peter Craft, Head of Trustee & Depositary for Europe, Middle East & Africa at BNY Mellon Asset Servicing, said: ‘Daiwa's experience in servicing the Irish funds market provides a solid foundation upon which it can build its UK fund hosting solution. We look forward to working closely with them to ensure they have all the tools at their disposal to grow that business successfully."
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. Additional information is available at www.bnymellon.com.