BNY Mellon has opened a new representative office in Jeonju, South Korea to extend its partnership with the National Pension Service of Korea (NPS).
BNY Mellon was selected by NPS 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.
Rohan Singh, head of asset servicing for Asia-Pacific at BNY Mellon, said: “We are both delighted and honoured to have been given further opportunities to serve the National Pension Service of Korea.”
He added: “This new move marks further co-operation between the two organisations 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 at BNY Mellon, commented: “We see a bright future for Jeonju to become one of the major financial centres in Korea, a strategically important market for BNY Mellon in Asia-Pacific.”
He added: “With more than 30 years of strong presence and servicing experience in Korea, we look forward to further opportunities in the country and are committed to being a trusted partner to our Korean clients, helping them to achieve the highest goals, both at home and globally.”
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