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The Bank of New York Mellon Creates New Sovereign Advisory Board

The Bank of New York Mellon, a global leader in asset management and securities servicing, has announced the creation of a new Sovereign Advisory Board in order to best serve sovereign organizations, which include sovereign wealth funds, sovereign pension plans, central banks/monetary authorities and sovereign owned entities.

The new Sovereign Advisory Board will be co-chaired by David Jiang, Head of BNY Mellon Asset Management in the Asia Pacific region, and Hani Kablawi, Head of Middle East and Africa. The Board, which will comprise senior managers from across all of BNY Mellon's lines of business, has been designed to leverage BNY Mellon's on-the-ground resources, services and best practices from around the world, to further develop its strong sovereign client relationships and product offerings.

"The creation of this group will enable sovereign clients to benefit from enhanced solutions and a dedicated client service platform tailored to their specific needs," said Gerald Hassell, President of The Bank of New York Mellon. "David and Hani's leadership of a new dedicated sovereign advisory board is clear indication of the growing importance we place on the role of sovereign organizations in the world financial markets. We are uniquely positioned to support their operational and investment needs."

Sovereign wealth funds have become increasingly prominent over the past decade, driven in part by record prices in trade surpluses and commodities in many Middle Eastern and Asian economies. As a result, the breadth of their investments and the services they require has evolved. This new Sovereign Advisory Board will ensure that sovereign clients have greater access to BNY Mellon's broad range of products and services spanning asset management, asset servicing, issuer services, clearing services and treasury services.

Hassell added: "The Bank of New York Mellon remains one of the strongest financial institutions globally with institutions increasingly turning to us as they seek an eminent and resilient business partner. The creation of this important board sets the stage for the acceleration of our business with this key client segment."