NAB And BNY Mellon Strengthen Alliance
MELBOURNE, Australia, June 25, 2013
MELBOURNE, Australia, June 25, 2013 /PRNewswire/ -- National Australia Bank
and BNY Mellon have strengthened their relationship to deliver a comprehensive
range of asset servicing products and services to Australian institutional
This new alliance reaffirms NAB's and BNY Mellon's long-standing custody
relationship and will offer additional support to customers of both firms, as
well as the opportunity to introduce an expanded suite of products and
NAB and BNY Mellon have a long and successful history working together. For
almost 20 years they have shared a custody relationship whereby BNY Mellon is
NAB's primary global custodian for offshore assets and NAB is BNY Mellon's
primary sub custodian for Australian and New Zealand assets.
This new alliance builds upon that solid foundation and brings together BNY
Mellon's global strengths with NAB's extensive local expertise.
Christine Bartlett, Executive General Manager of NAB's Asset Servicing
business said the new alliance encompassed the broad range of asset servicing
capabilities both organisations bring to market.
"NAB Asset Servicing is the largest custodian in the Australian market, backed
by the strength of NAB's AA-rating, with a great deal of experience and a
strong capability in domestic service.
"Building on our custody relationship and entering into a new alliance with
BNY Mellon, who is the largest global custodian in the world, will help us
support our clients in Australia and New Zealand to achieve their growth
ambitions," Ms Bartlett said.
Danny McGrady, Country Executive for Australia at BNY Mellon, said this
alliance demonstrated BNY Mellon's long term commitment to the Australian
"Australia has long been an important market for BNY Mellon's asset management
and investment services businesses, largely a reflection of the continuing
growth in superannuation savings," said Mr McGrady. "This alliance with NAB is
another step in our long term commitment to Australian investors and enhances
our position with the institutional market."
"Our two companies have enjoyed a strong relationship for almost two decades;
accordingly we know each other's organisations and cultures well. We believe
that together we have a compelling offering which can provide local
capabilities for our global clients in Australia, and world class capabilities
for Australian investors globally," added Mr Samir Pandiri, chief executive
officer, BNY Mellon's asset servicing business.
National Australia Bank Limited is an international financial services
organisation. One of Australia's biggest banks and largest listed
institutions, NAB manages relationships with retail, corporate and
institutional clients, and financial organisations internationally. A strong
balance sheet has helped rank us as the safest Australasian bank and 16th
overall World's safest bank in Global Finance Magazine's World's 50 Safest
NAB Group's operations in Asia, Australia, New Zealand, the United Kingdom and
the United States serve over 10 million banking and wealth management clients,
providing access to international financial markets and an extensive range of
specialised funding, liquidity, investment, asset services and risk management
capabilities. Strong international relationships combined with the local
market knowledge of over 40,000 employees in more than 1,800 branches and
service centres, help us deliver efficient results worldwide.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients
manage and service their financial assets throughout the investment lifecycle.
Whether providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment management and
investment services in 36 countries and more than 100 markets. As of March 31,
2013, BNY Mellon had US$26.3 trillion in assets under custody and/or
administration, and US$1.4 trillion in assets under management. BNY Mellon can
act as a single point of contact for clients looking to create trade, hold,
manage, service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn
more at bnymellon.com, or follow us on Twitter @BNYMellon.
BNY Mellon's Asset Servicing business supports institutional investors in
today's fast-evolving markets, safeguarding assets and enhancing the
management and administration of client investments through services that
process, monitor and measure data from around the world. We leverage our
global footprint and local expertise to deliver insight and solutions across
every stage of the investment lifecycle.
BNY Mellon has been active in Australia for more than 30 years, delivering a
variety of investment management, payment, trustee, depositary receipt,
clearing and global custody services to Australian banks, institutional
investors, listed corporations and broker-dealers. The company's Australian
offices are located in Sydney, Melbourne and Rosebery.
 Comparison of long-term credit ratings and total assets of the 500 largest
global banks (World's 50 Safest Banks report, Global Finance Magazine, 2013).
SOURCE BNY Mellon
Contact: Fiona Macrae, NAB, M: +61 (0) 412 693 182, Fiona.Macrae@nab.com.au;
or Ivan Royle, BNY Mellon, M: +1 646 581 5162, email@example.com, or
Louisa Bartoszek, BNY Mellon, T: +44 20 7163 2826,
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