Business & Finance
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Published in Business and Finance on Wednesday, January 5th 2011 at 4:40 GMT by Market Wire
BNY Mellon Asset Servicing Selected to Provide Global Custody for Banco Nacional... -- NEW YORK, Jan. 5, 2011 /PRNewswire/ --
BNY Mellon Asset Servicing Selected to Provide Global Custody for Banco Nacional de Costa Rica
New Mandate for $800 Million Portfolio Expands Existing Relationship
NEW YORK, Jan. 5, 2011 /PRNewswire/ -- BNY Mellon Asset Servicing, the global leader in securities servicing, has been named to provide global custody for an $800 million investment portfolio of equities, fixed income and U.S. Treasury bonds by Banco Nacional de Costa Rica, the largest commercial bank in Costa Rica.
"BNY Mellon has a comprehensive set of services to complement custody," said Jose Antonio Vasquez Rivera, custody supervisor of Banco Nacional. "This breadth of offerings and BNY Mellon's advanced securities servicing platform were among the reasons behind our decision to select the firm to provide custody for this portfolio."
"We are pleased to extend our relationship with Banco Nacional de Costa Rica," said Michael Kalavritinos, managing director, BNY Mellon Asset Servicing. "We have provided Treasury services since 2003 to the bank, which also has served as our sub-custodian in Costa Rica."
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.
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, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 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 ].
SOURCE BNY Mellon
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