BNY Mellon had a great year, cleaning up in five categories in the Custody Risk European Awards 2011, including the sought-after European Custodian of the Year award. It introduced new technology, including smartphone capabilities, and assets under custody were boosted by the addition of large clients, including a Netherlands-based pension fund with €12.5 billion of assets, a large UK corporate pension fund with €11.25 billion of assets and a central bank with €3.7 billion of assets. BNY Mellon’s client base increased by 5.5%, with client wins far outstripping attrition. The company has been keeping up with regulations such as Solvency II and expanding its OnCore middle-office outsourcing platform. The judges praised BNY Mellon’s harmonisation of European solutions.
Source: Risk magazine | 20 Dec 2011