LONDON, 3 October 2011 — BNY Mellon, the global leader in investment management and investment services, has been awarded the accolade of the best transactional bank for financial institutions in Europe, Middle East and Africa ("EMEA") from the leading industry publication, emeafinance.
This prestigious award has been granted for a second consecutive year and is based on a readers' poll, showing true market recognition of BNY Mellon's Treasury Services offering. emeafinance attributed BNY Mellon's success to the firm's ability to find solutions to current market issues. These included margin compression due to business turmoil in parts of the Middle East and cost increases due to regulatory change in the Eurozone.
Depending on which part of the EMEA region a client works in, says market development officer for EMEA Michael Burkie, each factor will have a different weight. "Every client is saying they simply cannot continue to spend at their current levels and expect the same returns and margins," he says. "Clients are asking ‘how can we differentiate ourselves and how can BNY Mellon help us achieve that?'"
Examples in recent months of this approach included Italy's Extrabanca, which focuses on immigrant customers, and which announced that it would provide global remittance services using BNY Mellon's Remit Worldwide product. A similar solution was adopted by Bremer Landesbank in Germany as part of a new relationship formed with Aktif Bank of Turkey.
"The core of everything taking place in transaction banking today is cost-related, risk-related and/or revenue acquisition-related," says Dominic Broom, BNY Mellon's head of sales and relationship management for EMEA. "The goal for any institution is to develop offerings that allow clients to achieve against all three".
With locations on six continents and a network of more than 2,000 correspondent financial institutions, BNY Mellon's Treasury Services group 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 $1.7 trillion in payments transactions 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, offering superior investment management and investment services through a worldwide client-focused team. It has $26.3 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.8 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 and through Twitter @bnymellon.
This press release is issued by The Bank of New York Mellon to members of the financial press and media. All information and figures source The Bank of New York Mellon as at 30 June 2011 unless otherwise stated.
The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818
Branch office: One Canada Square, London E14 5AL Authorised and regulated in the UK by the Financial Services Authority.