The Bank of New York Mellon has completed the acquisition of JPMorgan Trust Bank Limited in Japan from JPMorgan Chase & Co.
The transaction is a result of the company’s acquisition of JPMorgan Chase’s global corporate trust business in 2006.
With the closing of the acquisition, The Bank of New York Mellon will introduce its wide range of corporate trust products in Japan while continuing to provide the securitization asset trustee services already provided by the trust bank.
The trust bank currently provides asset securitization-related services for corporate clients, including asset trustee, cash management and fiscal agency services.
This transaction highlights Bank of New York Mellon’s strategy of growing its issuer and securities servicing businesses organically and via selective acquisitions and partnerships with leading institutions.
“With the completion of this acquisition, we have significantly improved our corporate trust capabilities in Japan and expanded the wide range of issuer and securities services available to our growing client base,” says Scott Posner, CEO of Global Corporate Trust, Bank of New York Mellon.
“We believe our financial strength coupled with a diverse and expanding suite of services will enable us to grow our corporate trust business in Japan and across the Asia Pacific region.”
L.D.