The Bank of New York Mellon Corporation (BNY Mellon Corp.) has been appointed by Banco Popular Espaol, the third largest banking group in Spain, as global custodian for assets totalling $2 billion.
“We appointed The Bank of New York Mellon as it was able to devise and implement a service completely tailored to our needs. Its systems enable us to access global reporting across our international custody and fund of funds participations using the same reporting tool, reducing costs and streamlining our operations considerably,” says Rafael Duarte, director and head of global financial institutions, Banco Popular Espaol.
“This win underscores our commitment to providing the client with the highest level of service through sophisticated systems. Our European custody model is strong and we look forward to extending further our relationship with Banco Popular Espaol in years to come,” adds Ana Sancho of BNY Mellon Corp.