20 January 2018
visit www.ebaday.com

BoNY and BHF-Bank to establish securities servicing JV in Germany

06 July 2005  |  1554 views  |  0 Source: The Bank of New York

The Bank of New York, a global leader in securities servicing, and BHF-BANK announce that they have established BHF BNY Securities Services GmbH as a jointly held subsidiary.

Based in Frankfurt am Main, this new company will market Global Custody (Depotbank) services for German investment companies, and securities custody and settlement services for the national and international direct investments of institutional investors. Clients will now have a single point of contact that will coordinate all services on their behalf.

BHF BNY Securities Services GmbH brings together BHF-BANK's expertise in the German market and The Bank of New York's international experience as the world’s largest securities custodian. BHF-BANK and The Bank of New York will each hold a 50 % stake in the new company.

Dietmar Schmid, the member of BHF-BANK's Board of Managing Directors heading the Asset Management & Financial Services division, said: "Given each bank's expertise in its respective markets, BHF BNY Securities Services GmbH represents a perfect partnership. Our joint clients will benefit from tailor-made service packages."

Tim Keaney, Executive Vice President and Head of Europe at The Bank of New York, added: "The Bank of New York and BHF-BANK already have a well-functioning team selling custody services in Germany, and have been operating together for over a year. The time is now right to formalise this relationship and we are excited by the opportunities that this joint venture will provide both our clients and our growing business in Germany."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.fivedegrees.nlvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
12516 views comments | 33 tweets | 38 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
7909 views comments | 12 tweets | 12 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
7760 views comments | 14 tweets | 14 linkedin
hands typing furiouslyFintech Adoption is About People, Not Tech
6891 views 1 | 6 tweets | 2 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job