BNY Mellon Asset Servicing, a global provider of securities servicing, has been selected as overseas custodian by Bangkok Bank Public Company Limited.
Bangkok Bank is the largest bank in Thailand, with about 700 branches across the country. It is also one of the major regional banks in South East Asia, with an overseas network of 19 branches, one representative office and a wholly owned subsidiary located in 13 countries, including China, Hong Kong, Japan, Indonesia, Singapore, Malaysia, Vietnam, Taiwan, Laos, Myanmar, the Philippines, the United Kingdom and the United States.
Bangkok Bank will act as the local trustee to its underlying Thai institutional clients investing overseas.
“We selected BNY Mellon because of the strong synergies between our two organisations,” says Bordin Unakul, EVP at Bangkok Bank. “They have demonstrated a clear understanding of our needs, and have proven experience in meeting the complex custodial requirements of Bangkok Bank.”
“The Thai investment market has achieved great success in recent years in the development of its offshore investment capabilities and opportunities are opening up across the country,” says Chong Jin Leow, head of Asia, BNY Mellon Asset Servicing. “This mandate confirms that the solutions we are providing to Thailand’s top institutions are best in class and that we remain at the forefront of the industry.”