BNY Mellon Asset Servicing, the securities servicing, has been ranked #1 overall in five categories – a feat matched by only one other provider – and ahead of its peer group in a further seven categories in the latest annual R&M Survey of custody clients and fund managers (Peer group: State Street, JPMorgan, Northern Trust, Citigroup).
BNY Mellon was ranked #1 overall in the following categories:
– The Experts (respondents using five or more custodians)
– USA
– UK Asset Owners
– USA Asset Owners
– USA Asset Managers
It also finished in the overall Top Three and #1 within its peer group in these categories:
– North America (#2)- Banks (#2)- UK (#3)
The company was also #1 within its peer group in these additional categories:
– Overall- Europe- Asset Owners- Asset Managers
The company elicited the second highest number of client responses (121), compared to a median of 65 responses across other providers.
Sample BNY Mellon client comments included:
– “We have an established relationship and our custodian always considers our needs and contacts us with any enhancement that would be of value to us”- “Very professional and thoughtful in their approach”
– “BNY Mellon has been very effective, especially in managing the risk to collateral cover for loaned securities”
– “We have been consistently updated and reassured”
“BNY Mellon has demonstrated a high degree of consistency in some of the toughest market conditions ever seen, as reported by the toughest critics, the global fund manager community,” says Richard Hogsflesh, managing director, R&M Surveys. “To come top of the ‘Experts’ table is a very significant achievement.”
The R&M Survey results follow BNY Mellon’s strong showing in Global Custodian magazine’s 2008 Global Custody Survey – published in January – in which BNY Mellon Asset Servicing received the highest number of ‘Top-Rated’ recognitions (eight) and ‘Best in Class’ awards (142) out of all surveyed firms.
“We’d like to thank our clients for their continued support and for this latest vote of confidence in our organization,” says Jim Palermo, co-CEO of BNY Mellon Asset Servicing. “Our success in this prestigious survey underlines the strengths of our offering and shows that our continued focus on quality and service excellence has once more been recognized by the market. The R&M results are testament to the dedication of everyone working within our Asset Servicing business during what remain very testing times for our entire industry.
D.C.