Microsoft’s Treasury Group selects BNY Mellon as custodian
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Microsoft’s Treasury Group selects BNY Mellon as custodian 08 May 2019New York Reporter: Becky Butcher
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BNY Mellon Asset Servicing has been picked by Microsoft’s Treasury Group to serve as global custodian.
As custodian, BNY Mellon will offer a cross-business bundle of services, including custody, collateral management, performance measurement and liquidity services.
Using BNY Mellon’s platform, Microsoft will be able to optimise its resources and continue to leverage industry best practices.
The new deal marks the first change in custodian for Microsoft in over 10 years.
Commenting on the deal, Hani Kablawi, CEO of asset servicing at BNY Mellon, said: “We are very excited to begin a new chapter in our relationship with Microsoft and are confident that we will be able to help its Treasury business continue to simplify its processes. Our fully integrated global client technology ecosystem will deliver a sophisticated solution that is both flexible and reliable to meet Microsoft’s needs.”
George Zinn, corporate vice president and treasurer of Microsoft, added: “As we considered a new strategic provider, we looked for a single operating platform which could automate key processes and help us be more efficient. We look forward to continuing to collaborate with BNY Mellon and grow the relationship, including the use of technologies like Microsoft Teams as the hub for managing and collaborating on this project.”
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