Business & Finance
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Published in Business and Finance on Tuesday, January 3rd 2012 at 7:46 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
BNY Mellon Appointed as Successor Depositary by Petrobras for its American Depositary... -- NEW YORK, Jan. 3, 2012 /PRNewswire/ --
BNY Mellon Appointed as Successor Depositary by Petrobras for its American Depositary Receipt (ADR) New York Stock Exchange-Listed Programs
BNY Mellon now acts as depositary for 8 of the world's 10 largest DR programs by value
NEW YORK, Jan. 3, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been selected as successor depositary by Petrobras for its American depositary receipt (ADR) program. Each Petrobras ADR represents two ordinary shares and trades on the New York Stock Exchange under the symbols "PBR" and "PBR.A."
"Petrobras is the second-most active ADR program in the world, by daily value traded, and serving as their depositary only reinforces our presence in Brazil and the region," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business. "We look forward to working closely with Petrobras in the coming years and commit fully to maximizing value for their global shareholder base."
BNY Mellon acts as depositary for more than 2,500 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at [ www.bnymellon.com/dr ].
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, offering superior investment management and investment services through a worldwide client-focused team. It has $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.7 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). Learn more at [ www.bnymellon.com ] and through Twitter @bnymellon.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
SOURCE BNY Mellon
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