HONG KONG, Sept. 18 /Xinhua-PRNewswire/ -- The Bank of New York Mellon's policy is not to comment on individual client relationships, but the Corporation is clarifying inaccurate information circulating in the marketplace regarding our association with Lehman Brothers.
Often, there is a common misunderstanding of the role that we play when serving as a trustee. Today, it has been incorrectly reported that The Bank of New York Mellon is one of Lehman's largest unsecured creditors. That's not correct. In this situation, our role has been to serve as a trustee for certain Lehman Brothers bond offerings. We have no outstanding loans to Lehman.
In our role as trustee, we facilitate the payment of interest and principal between the issuer of debt and investors as well as other services.
The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and highnet-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $23 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $12 trillion in outstanding debt. Additional information is available at http://www.bnymellon.com .
Contact:
Financial Dynamics
Kate Cheung
Tel: +852-3716-9826
Email: kate.cheung@fd.com
