BNY MELLON PARTNERS WITH GERMANY’S BHF ASSET SERVICING

Posted March 5, 2009

FRANKFURT and LONDON – BNY Mellon Asset Servicing and BHF Asset Servicing GmbH, which serves depot-bank and custody business in Germany have formed a partnership to pool supplementary services and enhance their product offerings, giving their clients both global reach and local knowledge.

“Our two companies have worked together in a highly successful alliance for more than three years,” says Tim Keaney, co-Chief Executive Officer of BNY Mellon Asset Servicing. “We will continue that cooperation to support our German clients and ensure they can capitalize to the fullest extent upon new opportunities as they arise.”

The key products that both companies are now able to provide include transition management, commission recapture and futures clearing. Global custody and sub-custody business are two other areas where BNY Mellon and BHF Asset Servicing are further intensifying their cooperation. In the depot-bank arena, the two companies will operate independently going forward.

“The competencies and expertise each bank brings to the partnership ideally complement each other,” says Wolfgang Danicke, Managing Director of BHF Asset Servicing GmbH. “This ensures that we are optimally positioned to tailor our products and services to our high net worth clients’ individual requirements.”

BHF Asset Servicing GmbH currently holds more than €270 billion in assets under custody. BNY Mellon Asset Servicing has $20.2 trillion in assets under custody and administration.