BNY Mellon, the global investment management and investment services group, has announced its appointment as successor depositary bank by OJSC Cherkizovo Group (Cherkizovo) for the companys global depositary receipt (GDR) program.
Based in Russia, Cherkizovo Group is a leading vertically integrated agro-industrial firm with operations across the full lifecycle from feed production and breeding to meat processing and distribution. Cherkizovos operational facilities include meat processing plants, pork and poultry production complexes, and combined fodder production plants. Cherkizovos geographical footprint covers Moscow and the regions of Central Russia, and its consumer brands include Cherkizovsky, Petelinka, and Imperia vkusa.
We have selected BNY Mellon as successor depositary for its commitment to the Russian market and its recognized leadership and expertise, says Irina Ostryakova, communications director, Cherkizovo Group. We are confident BNY Mellon has the resources to help us effectively service our investors.
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day.
When an experienced DR issuer like Cherkizovo appoints us as successor depositary bank, a clear message is sent to the marketplace highlighting our proven track record and commitment to clients, says Michael Cole-Fontayn, chief executive officer of BNY Mellons Depositary Receipts business. We look forward to putting our extensive resources to work for Cherkizovo Group.
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