The Bank of New York announced that its subsidiary, The Bank of New York (Luxembourg) S.A., has established a Belgian branch that will enable it to offer custody and administration services to Belgian domiciled collective investment undertakings (UCIs).
The Bank of New York, directly or through its subsidiaries, is already a leading provider of custody and administrative services to global funds, providing a comprehensive range of services from operational centers in Brussels, Dublin, London and Luxembourg.
“In response to our clients’ growing need for pan-European fund administration services, we have made the strategic decision for The Bank of New York (Luxembourg) S.A. to establish a branch in Brussels,” said, Stephen J. Richardson, managing director, chief operating officer, Europe, The Bank of New York. “Clients will benefit from access to a comprehensive range of fund administration and custodian services.”
The Belgian branch builds on The Bank of New York’s strong European heritage. Brussels is the hub of The Bank of New York’s continental European global processing operations, where the Bank employs approximately 1,000 staff locally. The Belgian branch of The Bank of New York (Luxembourg) S.A. will be located at 35 Avenue des Arts, 1040 Brussels, Belgium.