BOSTON, May 21, 2015 /PRNewswire/ -- Standish Mellon
Asset Management Company LLC, a fixed income specialist for BNY
Mellon, has awarded the first Standish Minority Business Enterprise
Awards to Castleoak Securities and Siebert
Brandford Shank & Co.
Castleoak was recognized for excellence in taxable trading and
Siebert Brandford Shank & Co.
was honored for excellence in municipal trading. Standish presented
the awards at its second annual forum for minority brokers as part
of its effort to increase minority representation in the trading of
fixed income securities.
"Our awards recognize the progress that Castleoak and Siebert
have made since last year's forum and their increasing ability to
provide value to Standish's trading desks," said Amy Koch, Global head of Taxable Trading for
Standish. "With significantly smaller capital bases than our
traditional trading partners, we're seeing a number of minority
brokers finding ways to provide important market information and
liquidity."
Since the 2014 forum, Standish said its combined taxable and
municipal trade volume with minority brokers has increased
significantly as the number of unique sectors it trades with
minority-owned firms more than doubled to seven. In the last year,
Standish has executed trades with 15 minority dealers.
However, Koch added, "We believe that focusing on becoming a
larger counterparty to a few firms, rather than a less significant
player with many will better achieve our goals of diversity and
inclusion. We believe we can make a difference, but we acknowledge
our limitations and recognize that one firm cannot accomplish this
alone. Overall, we believe that we are achieving our goals of
boosting minority broker participation while ensuring that our
selection of brokers is subject to our responsibility of seeking
best execution."
BNY Mellon is committed to attracting, advancing and retaining
diverse talent in its leadership ranks, across its global workforce
and throughout its supplier base. The company's approach to global
diversity and inclusion is driven through an integrated framework
of strategic forces ranging from workforce and workplace diversity
to marketplace diversity. Exceeding $1.1
billion over the past five years, the company's supplier
development program has helped small and diverse suppliers
build capacity to grow their businesses."
Notes to Editors:
Standish Mellon Asset Management Company LLC, with approximately
$170 billion of assets under
management, provides investment management services across a broad
spectrum of fixed income asset classes. These include corporate
credit, emerging markets debt (dollar-denominated and local
currency), core / core plus, tax–sensitive, short duration, stable
value and opportunistic (U.S. and global) strategies.
Standish also offers full service capabilities in insurance client
strategies and liability driven investing. The firm includes assets
managed by Standish personnel acting as dual officers of The
Dreyfus Corporation and The Bank of New York Mellon and Alcentra
NY, LLC personnel acting as dual officers of Standish.
Standish, Dreyfus and The Bank of New York Mellon are affiliated
subsidiaries of BNY Mellon.
BNY Mellon Investment Management is one of the world's leading
investment management organizations and one of the top U.S. wealth
managers, with $1.7 trillion in
assets under management. It encompasses BNY Mellon's affiliated
investment management firms, wealth management services and global
distribution companies. More information can be found at
www.bnymellon.com.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of March 31, 2015, BNY Mellon had $28.5 trillion in assets under custody and/or
administration, and $1.7 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Additional information is available on www.bnymellon.com, or
follow us on Twitter @BNYMellon.
All information source BNY Mellon as of March 31, 2015. This press release is qualified
for issuance in the US only and is for information purposes only.
It does not constitute an offer or solicitation of securities or
investment services or an endorsement thereof in any jurisdiction
or in any circumstance in which such offer or solicitation is
unlawful or not authorized. This press release is issued by BNY
Mellon Investment Management to members of the financial press and
media and the information contained herein should not be construed
as investment advice. Past performance is not a guide to
future performance. A BNY Mellon Company.
Contact:
Mike
Dunn
+1 212 922
7859
mike.g.dunn@bnymellon.com
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SOURCE BNY Mellon