Delivering exceptional client service is at the heart of everything we do at BNY Mellon. In his quarterly blog, Corporate Trust CEO Frank La Salla shares insights into how we’re collaborating with clients and delivering solutions to industry challenges.
In the first two months of 2018 I visited clients in many markets, including Singapore, Sydney, London, Munich, Zurich, San Francisco and Los Angeles, and met with even more at a structured-finance conference.
What I heard and saw in every conversation supports the data: The global economy is on a roll, with simultaneous expansion—for the first time in many years—in every major economy.
The International Monetary Fund projects 3.9% growth for the world economy in 2018 and ’19, up from 3.7% last year and 3.2% the year before. Business confidence and hiring are improving alongside consumer confidence and spending.
This rising-tide-lifts-all-boats scenario presents opportunities for us all, and we are positioning ourselves to ensure that we are ready to support our clients as they make moves to capitalize on it.
A case in point is the construction of Italy’s Superstrada Pedemontana Veneta tollway, financed by a €1.57 billion bond issuance that we helped facilitate. We are very proud of our role as trustee, paying and escrow agent, registrar, and tri-party collateral agent, because this type of development will help accelerate growth in Italy and perhaps have ripple effects for the stirring European economy.
And we’re doing some development of our own. We continue to invest in our digital platforms to improve service delivery and introduce new capabilities for clients.
One example of this is LoanArcSM, our secure, web-based loan-reporting solution. The work we’re doing here should help with the record levels of collateralized loan obligation (CLO) activity that some analysts have forecast for 2018.
We’re also moving our deal-management system off a vendor’s platform to the BNY Mellon platform, to enhance resiliency and further reduce risk.
Along with our technology investment, our Issuer Services people on the ground—across every major market—are positioned and ready to support clients as they execute their strategies in this reenergized global economy.
If you have ideas for how BNY Mellon Issuer Services (Corporate Trust and Depositary Receipts) can help you, we’d love to hear from you.
“Understanding our client’s specific objectives and tailoring solutions to meet their needs are paramount.”Frank La Salla, Chief Executive Officer, BNY Mellon Corporate Trust
We are also certainly invested in the future. We are shifting organizational processes, culture, and mind-sets to a digitization journey to deliver not only strategic, but transformational goals. On this journey, we are continuing to design solutions that reduce complexity and provide end-to-end service. Both are essential components to helping our clients succeed.
Recently we reached a significant digitization milestone. We activated 90% of our Corporate Trust clients on BNY Mellon NEXENSM! We have received positive feedback from clients on their onboarding and user experiences, including one client saying, “BNY Mellon is ahead of its peers and ahead of the curve, our company would like to be fully onboarded to benefit from NEXEN’s rich functionality as soon as possible.”
The Corporate Trust team continues to regularly reach out to clients for their feedback, as it shapes all aspects of innovation and development. We’re excited to launch more services, like LoanArc, our new online loan reporting solution.
Our Corporate Trust team is dedicated to serving its clients and driving the industry forward. It’s an honor to share that for two years in a row we’ve been named Best Corporate Trust Service Provider by Global Finance magazine. We undoubtedly have an accomplished team.
With a promising landscape in front of us, I’m excited to work with you. Thank you for your continued partnership, and I am confident that with your support and the power of teamwork, the next chapter will be one of great success.
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