Custodian of the Year

   European Custodian
of the Year
 bny_mellon_200.jpg Judges noted that custody was a hard category to judge. They said securities lending was a differentiator and that financial strength counted too. During 2008 BNY Mellon Asset Servicing continued to set the pace in an increasingly competitive and challenging business environment. Organic growth for the firm’s legacy organisations was strong prior to the merger in July 2007. The deal brought about cost savings and revenue synergy opportunities. Today, BNY Mellon Asset Servicing has over $23 trillion (€18 trillion) in assets under custody and administration, with some 35% of that business being derived from the EMEA markets. The increasing complexity of today’s globalised business environment is a major challenge for clients and the firm’s ability to deal with that complexity through innovative solutions, coupled with its scale and focus on service excellence, puts BNY Mellon Asset Servicing in a strong position. Following the merger, the new business was structured to maximise flexibility and speed of response.
Click the screen for a video of the award presentation.  
Also shortlisted  Securities Services (Special Commendation)
Over the last twelve months, SGSS pursued an international development strategy. This includes the consolidation and optimisation of its securities business in mature countries, the historical and successful migration of Pioneer’s business, the pursuit of strategic acquisitions, as well as development in emerging countries. SGSS has $4.3 trillion (€3.4 trillion) in assets under custody and provides custody and trustee services for around 3,243 funds. JPMorgan Worldwide Securities Services
Judges noted a good batch of client wins for JPMorgan. The bank’s product-driven solutions have attracted $300bn (é234bn) of new business assets over the past twelve months and the number of European clients now approaches 700. Clients’ needs drive the firm’s approach – designing solutions that specifically address the issues presented by developments in distribution, products and performance. State Street
State Street offers a ‘one-stop shop’ service encompassing an integrated and comprehensive range of investment services – backed by $15.3 trillion (€11.9 trillion) in global assets under custody and operations in 26 countries and more than 100 markets. These services are fully scalable to the customers’ needs.

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