IMPORTANT INFORMATION FOR CLIENTS OF THE BANK OF NEW YORK MELLON SA/NV LONDON BRANCH
Part VII Banking Business Transfer Scheme
As part of its overall strategy to simplify its operations in the EMEA region, BNY is transferring clients from The Bank of New York Mellon SA/NV London Branch (“BNYM SANV LB”) to The Bank of New York Mellon London Branch (“BNYM LB”) (“the Transfer”). This further enhances BNY’s resolvability and maintains efficient compliance with the relevant asset safety regimes. The decision to put this initiative in place was made several months prior to the 2016 EU referendum in the UK.
In order to effect the Transfer, The Bank of New York Mellon SA/NV and The Bank of New York Mellon made a joint application to the High Court of Justice in England and Wales (the “Court”). The Court approved the Transfer to be effected by way of a scheme under Part VII of the Financial Services and Markets Act 2000 (the “Part VII”) on 26 June 2018. Clients will be transferred from BNYM SA/NV LB to BNYM LB on the date that has been, or will be, notified to clients. From such date, services previously provided by BNYM SA/NV LB will be provided by BNYM LB. Relationship managers and any other main points of contact will continue as before.
Key Documents:
If you wish to contact us in relation to the Scheme, you may do so by contacting your relationship manager directly or our dedicated team at partviitransfer@bnymellon.com.