BNY Mellon Completes Next Phase of European Integration Project

LONDON -

BNY Mellon, a global leader in securities servicing and asset management, having received all required regulatory approvals has today announced the merger of its Dutch-based subsidiary BNY Mellon Asset Servicing B.V. into the Belgian bank entity it established in May of this year.

The merger sees the Belgian bank assume all of BNY Mellon Asset Servicing B.V.’s operations, which encompass asset servicing activities across London, Amsterdam, Breda, Luxembourg and Frankfurt and employ a total of 500 staff.

The Belgian bank was created to act as the lead European entity for the BNY Mellon’s asset servicing activities. Following the merger, it will have assets of circa EUR36 billion, making it the sixth largest* bank in Belgium, and will employ approximately 1400 staff. It will have branches in the Netherlands, the United Kingdom, Germany and Luxembourg.

Nadine Chakar, CEO of the Belgian bank, said: “By merging our Dutch-based B.V. into our Belgian bank we have further aligned our various legal entity structures to support our growth strategy within the EMEA region.

“Our creation of a regional hub in Brussels gives us a financial, commercial and operational base that allows us to step up the ongoing expansion of our business across the region and consolidates our position as the leading provider of securities servicing globally. Our Belgian banking licence will also benefit us when it comes to future membership in European payment platforms.”

*By size of balance sheet

Notes to editors

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation.

The Bank of New York Mellon SA/NV - the Belgian Bank - is a fully-owned subsidiary of BNY Mellon that is authorised, regulated and supervised by the Banking, Finance and Insurance Commission of Belgium (CBFA).

BNY Mellon’s Asset Servicing business 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 offers its products and services through The Bank of New York Mellon and other subsidiaries of The Bank of New York Mellon Corporation.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company 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 US$20.7 trillion in assets under custody and administration, US$926 billion in assets under management, services US$11.8 trillion in outstanding debt and processes global payments averaging US$1.8 trillion per day. Additional information is available at www.bnymellon.com.

Source: BNY Mellon

Tim Steele of BNY Mellon, +44-20-7163-5850, tim.steele at bnymellon.com