BNY Mellon Opens Representative Office in Jeonju, Korea
New service point to support NPS Korea and the country's financial sector development
Hong Kong, August 7, 2019 - BNY Mellon, a global leader in investment management and investment services, today announced the opening of a new representative office in Jeonju, Korea in order to deepen its partnership with National Pension Service of Korea (NPS).
BNY Mellon was selected by NPS, one of the world's largest pension funds, as the global custodian for their fixed income mandate last year and was recently given permission from the Korean regulatory bodies to set up a representative office in Jeonju, the location of the NPS headquarters.
'We are both delighted and honored to have been given further opportunities to serve the National Pension Service of Korea,' said Rohan Singh, Asia Pacific Head of Asset Servicing, BNY Mellon. 'This new move marks further co-operation between the two organizations and re-affirms the value BNY Mellon provides through its integrated servicing, data solutions and long-term commitment to major institutional investors.'
David Cruikshank, Asia Pacific Chairman, BNY Mellon, added, 'We see a bright future for Jeonju to become one of the major financial centers in Korea, a strategically important market for BNY Mellon in Asia Pacific. With over 30 years of strong presence and servicing experience in Korea, we look forward to further opportunities in the country and are committed to being the trusted partner to our Korean clients, helping them to achieve the highest goals, both at home and globally.'
NPS, which oversees South Korea's public pension assets, is the world's third largest pension fund. As of April 2019, it has total assets under management of around $600 billion, of which $200 billion is invested globally across 68 markets.
About BNY Mellon
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. As of June 30, 2019, BNY Mellon had US$35.5 trillion in assets under custody and/or administration, and US$1.8 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.