BNY Mellon appointed custodian of over $7 billion US assets for Nordea

Nordea Bank opts for BNY Mellon as custodian of its US debt and equity portfolios.

By Hayley McDowell

BNY Mellon announced it has been appointed to provide custody services for Nordea’s US debt and equity portfolios that are valued at over $7 billion.

Nordea is a Swedish based company with over 650 branches and call centres in the region. Its businesses include corporate, institutional, retail and private banking.

Head of product and network management at Nordea Bank, Joakim Gustafson, explained BNY Mellon was selected as the custodian following a “thorough review process”.

He added that Nordea was “impressed by [BNY Mellon’s] drive to 'go the extra mile' and ability to combine an impressive customer technology interface with a high-touch EMEA - US service model.”

Daron Pearce, CEO of asset servicing in EMEA for BNY Mellon, said its relationship with Nordea is “among our most valued asset servicing relationships in the region.”

He added that Nordea will be “fully supported by our team in Copenhagen to ensure both timely and effective communication and solutions.”