BNY Mellon has opened a new branch in Copenhagen under its European Bank brand to further support its clients in the Nordic region.
The office adds to the European Bank’s presence in Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg and the Netherlands, where it supports clients with asset servicing and ancillary services, corporate trust, markets and clearing and collateral management services.
Leading the branch will be Søren Eberhard, a senior relationship manager who boasts over 35 years’ experience in investment services and helped established BNY Mellon’s first Copenhagen office in 2008.
Eberhard joined BNY Mellon in 2007 following the custody bank’s acquisition of ABN Amro’s securities services business. He was previously first vice president for Nordic business development where he was responsible for forming its Nordic strategy.
He also spent over 20 years at Danske Bank, six of them as its global head of securities services.
“We have been conducting business in this region for more than a century and the opening of our newest European Bank branch is yet another step in our ambitious international growth strategy,” said Leonique van Houwelingen, CEO of the BNY Mellon SA/NV, the European Bank of BNY Mellon.
“Our partnerships in Denmark and the wider Nordics are deep and enduring and we have the breadth of experience and the technological infrastructure to meet the needs of large, sophisticated pension schemes and other asset owners and managers in the region. BNY Mellon is a truly global bank and we’re excited that this new branch will drive growth and allow clients to access our capabilities around the world more seamlessly.”
The Nordics has become a key strategy focus for BNY Mellon in Europe over recent years, largely because of its huge asset owner market.
Last year, it won back a global custody deal for Denmark’s Arbejdsmarkedets Tillægspension (ATP), Europe’s fourth largest pension funds with around $120 billion in assets under management. In October, BNY Mellon also renewed its 14-year global custody agreement with $50 billion Swedish state pension fund Sjunde AP-fonden (AP7).