BNY Mellon Owns the Podium among Trade Finance Service Providers, Receiving 10 Medals in Trade & Forfaiting Review Magazine's TFR Awards 2010 Results

Rankings reflect strategic focus on helping client banks and their customers succeed in a challenging trade environment

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Jun 29, 2010, 08:09 ET

NEW YORK, June 29 /PRNewswire/ -- BNY Mellon Treasury Services has received a resounding endorsement of its trade finance services, receiving top-three rankings in 10 separate categories from participants in Trade & Forfaiting Review magazine's 2010 survey of service providers. BNY Mellon's ten top-three finishes was the largest number of gold, silver and bronze medals won by any service provider in this year's survey, and is four more than BNY Mellon's total in 2009.

Consisting of 30 categories, the TFR awards are based entirely on verified reader votes – mainly corporates, banks and other financial institutions involved in international trade finance globally. This year, a total of 5,220 individual votes were cast. BNY Mellon's 10 top-three finishes include a gold for Best Online Trade Provider, and silvers for Best Trade Bank in the World; Best Trade Services Provider; Most Innovative Trade Bank; Best Trade Bank in Latin America; Best Trade Bank in North America; Best Trade Bank in Asia; and Best Trade Bank in Structured Finance. Complete results of this year's survey will appear in the magazine's July issue.

"Our longstanding global presence and continuing commitment to innovation enable us to add substantial value to our trade finance client relationships," said Eric Kamback, chief executive officer of BNY Mellon Treasury Services. "Companies are taking an increasingly integrated approach to managing their treasury services and corporate finance operations, and trade finance has been both a driver and beneficiary of this integration. We've worked hard with our banking clients and their customers helping them stay abreast of these changes amidst challenging global economic conditions. The results from this year's T&FR survey indicate that our efforts are being appreciated."

With locations in 34 countries on six continents and a network of more than 2,000 correspondent financial institutions, The Bank of New York Mellon's Treasury Services group delivers high-quality performance in global payments, trade services, cash management, capital markets, foreign exchange and derivatives. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 currencies. Processing more than $1.5 trillion in payments transactions on a daily basis, the company is a top-five participant in both the CHIPS and overall funds transfer markets, and is a recognized leader in the delivery of white-label treasury services solutions for banks and other large institutional clients.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. Additional information is available at www.bnymellon.com.

SOURCE BNY Mellon