LONDON, Sept. 13, 2016 /PRNewswire/ -- BNY Mellon, a
global leader in investment management and investment services, has
been appointed by Clal Insurance to provide global custody, cash
management, foreign exchange and institutional accounting services
for assets valued at over $7
billion.
Based in Tel Aviv, Clal
Insurance is a leading Israeli insurance group offering a wide
range of services and products to private and corporate customers,
such as life and non-life insurance, health insurance, and pension
and provident funds.
"The high quality of service and an established market presence
were crucial when it came to our decision to appoint our new global
custody service provider," said Anath Levin CIO at Clal Insurance
group. "Working with BNY Mellon will help us achieve our ultimate
goal which is to increase our operational efficiencies and improve
our competitiveness within the Israeli market."
"Israeli financial services companies are growing their
portfolios and expanding their foreign asset allocation," adds
Christopher Porter, Managing
Director and Regional Executive for Israel at BNY Mellon. "This trend is being
driven by the growth of Israel's
dynamic export-led economy, which is supported by its
world-renowned high-tech and life science industries[1].
BNY Mellon is seeing significant growth in assets under custody and
management in Israel and we are
working with our clients to support them with evermore
sophisticated solutions for their global assets."
BNY Mellon has been active in the Israeli marketplace for over
50 years and provides a full range of investment management and
investment services solutions to its clients in Israel.
Notes to editors:
BNY Mellon's Asset Servicing business supports institutional
investors in today's fast-evolving markets, safekeeping assets and
enhancing the administration of client investments through services
that process, monitor and measure data from around the world,
allowing clients to focus on the management of their investments.
We leverage our global footprint and local expertise to deliver
insight and solutions across every stage of the investment
lifecycle.
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 June 30, 2016, BNY Mellon had $29.5 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.
Follow us on Twitter @BNYMellon or visit our newsroom at
www.bnymellon.com/newsroom for the latest company news.
This press release is issued by The Bank of New
York Mellon to members of the financial press and media.
All information and figures source BNY Mellon unless otherwise
stated as at June 30, 2016.
The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818.
Branch office: One Canada Square,
London E14 5AL. The Bank of New
York Mellon is supervised and regulated by the New York State Department of Financial
Services and the Federal Reserve and authorised by the Prudential
Regulation Authority.
The Bank of New York Mellon London branch is subject to regulation
by the Financial Conduct Authority and limited regulation by the
Prudential Regulation Authority.
Details about the extent of our regulation by the Prudential
Regulation Authority are available from us on request.
[1]
https://ec.europa.eu/jrc/sites/default/files/events/20140120-tto-circle/jrc-20140120-tto-circle-zetelny.pdf
Contact:
Malcolm
Borthwick
BNY Mellon
+44 20 7163 4109
malcolm.borthwick@bnymellon.com
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SOURCE BNY Mellon