I hope this message finds you well and that you and your families are staying healthy during this unprecedented time.
The landscape in 2020 is vastly different but with more than 236 years of delivering financial solutions for the world, we understand the critical role that BNY Mellon, and specifically Issuer Services, has in establishing continuity in the global debt and equity markets during periods of heighted disruption and market volatility. In my prior letter, I highlighted some of the methods we implemented to deliver consistent, high-quality client service during times when you depend on us most. We are steadfast in our commitment to help power you to succeed across the financial world. As we continue to move forward together, let’s take a look at how we’re progressing towards a sustainable future.
Our Corporate Trust team has acted as trustee and/or agent for more than 53,000 debt-related transactions worldwide*, which includes relief and recovery programs. We know emergency funding is urgent and crucial – and we’ve streamlined conventional debt and project financing services to support you, including: seamless Know Your Customer verification, standardized documentation and waived agent listing fees for COVID-19 response bonds (eligible under the LuxSE/LGX fee waiver initiative).
On the equity side, our Depositary Receipts business has stepped up to address the challenges clients are facing in this new virtual environment. We’re hosting ongoing educational webinars bi-monthly on various aspects of COVID-19, such as crisis communications, the current economic outlook and how investors are approaching the new virtual environment. Additionally, we held our first virtual global equity conference, jointly hosted with Morningstar, in which 21 clients and 100 investors participated. Our relationship management and Investor Relations advisory group are working closely with clients to help them navigate these challenging times and provide innovative solutions and insights that support their business objectives.
As a global corporate citizen, we strive to make a positive financial and social impact. Therefore, the work we do grows increasingly important in making that a reality. I am proud of our role in advancing society’s transition to a more sustainable future by supporting issuers worldwide who seek to raise capital via green and other forms of sustainable bonds. In Corporate Trust, we provide trustee, paying and listing agent services on green bond transactions for corporates, sovereigns and financial institutions. We are one of the leaders in the green bonds space, having administered nearly $40 billion dollars of global green debt issued in 2019**. Across the enterprise, we provide and facilitate financing tools that address pressing global environmental, social and governance (ESG) issues. More of these initiatives are covered in our latest Corporate Social Responsibility (CSR) report, including our work on green and blue bonds, gender equality bonds, and even pandemic bonds for countries facing the risk of a health emergency.
While the circumstances we operate in have changed significantly, a clear constant remains: our talent and clients are our greatest assets, always. Earlier this month, BNY Mellon launched our new brand platform, Consider Everything, which captures the spirit of our drive to imagine what’s possible, create it, then improve on it to ensure the continued success of our clients and industry. As I reflect on the past few months, it’s inspiring to see the incredible acts of unity, perseverance and collaboration from our employees and clients. And because of that, I continue to be optimistic about what lies ahead.
If you’d like to learn more about how BNY Mellon Issuer Services can help you or have any feedback, we’d love to hear from you.
*BNY Mellon Internal Reporting as of March 2020
**Data as of December 2019 Dealogic, Thomson Reuters
Chief Executive Officer, Issuer Services, BNY Mellon
Frank La Salla is the Chief Executive Officer of BNY Mellon’s Issuer Services business, which includes Corporate Trust and Depositary Receipts.View Profile