BNY Mellon has been selected by Allianz Bank Bulgaria, a subsidiary of Germanys Allianz Group, to provide global custody services.
BNY Mellon will act as intermediary for Allianz Bank Bulgaria four other Bulgarian financial service companies: Allianz Bulgaria Insurance Company, the countrys leading P&C1 insurer; Allianz Bulgaria Life, the countrys leading life insurance company; Allianz Bulgaria Pension Company, and Allianz Leasing Bulgaria.
Svetoslav Gavriiski, CEO of Allianz Bank Bulgaria, said: BNY Mellons global coverage and innovative solutions make it the ideal partner for us. Our own close collaboration with BNY Mellon, as well as its existing strong relationships across the Allianz Group as a whole, will ensure that we can further optimize our processes and so focus more closely on our core business.
(JDC)