NASHVILLE, Tenn., June 13, 2011 — BNY Mellon, the global leader in investment management and investment services, today announced it will significantly expand its Tennessee Processing Center (TPC) and nearby business office. BNY Mellon's presence in Davidson County, which dates to 2004, has steadily grown from 60 employees to nearly 200 employees currently. Helping to support operations in more than 100 markets in 36 countries, the company's Metro Nashville expansion will bolster the firm's global technology infrastructure.
"As BNY Mellon continues to grow worldwide through acquisitions and organically, and also expand our broad array of investment management and investment services products, we are committed to supporting that growth and progress with a world-class technology infrastructure," said Don Enfinger, managing director and general manager of BNY Mellon's TPC operations. "After a thorough analysis of potential locations around the country, we found that the best site for our IT-related expansion would be right where we are now, connected to our existing Tennessee locations. This has been a great city for us to establish a strong presence, and we're proud to remain a key player in the continued economic growth of the region.
"Nashville has emerged as an important center for our technical operations," Enfinger continued. "The region has a well-educated workforce; strong educational institutions; a high-quality standard of living; and exceptional communities for our employees to live."
Current plans call for BNY Mellon to double the size of its current 15,000-square-feet offices at Two Rivers Corporate Centre, as well as to construct a new, three-story, 155,000-square-feet processing facility in Davidson County. Following the completion of these two projects, BNY Mellon will occupy nearly 350,000-square-feet of space in the Metro Nashville area.
Shaub Construction Company, Inc., a local organization, was recently named general contractor for the Two Rivers project, which is scheduled to be completed by the fourth quarter of this year.
Support for BNY Mellon's expansion was negotiated in part by Nashville Mayor Karl Dean's Office of Economic and Community Development, the Tennessee Department of Economic and Community Development, the Tennessee Department of Revenue, the Tennessee Valley Authority and the Nashville Area Chamber of Commerce. This team worked together to help the company recognize that Tennessee is a competitive, attractive region for its plans for ongoing growth.
"Existing Tennessee businesses account for almost 86 percent of all new jobs created in the state," Tennessee Gov. Bill Haslam said. "When companies with Tennessee operations like BNY Mellon choose to expand here, they provide a solid foundation for our state's economy and are the basis for future job growth. We appreciate the company's continued commitment to and investment in Nashville."
"Helping existing businesses remain and grow here is fundamental to continuing our city's strong economic growth," Nashville Mayor Karl Dean said. "Not only is BNY Mellon creating new, high-quality jobs for our citizens, but they also are investing in the construction of a new facility which will have a positive impact. We appreciate their continued investment in Nashville and believe it's a testament to our city's appeal as a place to do business."
"Designed specifically for our current and future business growth through high density processing solutions, along with using the latest in network technology, our new building will allow us to support future generations of newer, faster equipment, which are focused on power saving, green technology efficiencies," Enfinger said.
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.