SEOUL, South Korea, Sept. 5, 2019 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, today hosted an official opening ceremony for its new representative office in Jeonju, Korea, in order to deepen its partnership with National Pension Service of Korea (NPS).
Sang Dong Ji, Country Executive for Korea at BNY Mellon, said, "The opening of the Jeonju Representative Office is an important chapter for BNY Mellon in Korea. Over the past 30 years in Korea, we are proud of what we have achieved, broadening our services, growing our business and supporting our clients, culminating in the launch of our office today. Our legacy of success will serve us well as we look forward to deepening our engagement in the Korea market."
Francis Braeckevelt, Head of Asia Pacific Operations at BNY Mellon, added, "Each of our 16 locations in Asia were the result of our commitment to the relationships we have formed with clients in the region. Our Jeonju Representative Office, our 17th, testifies to the importance of our relationship with NPS. With much of Korea's population relying on NPS for old-age income, we understand how important the NPS mission is to Korea's pension industry. As NPS and other Korean investors increasingly look overseas, we are here to assist through the strength of our custody and administration business, the world's largest for assets under custody."
BNY Mellon was selected by NPS, one of the world's largest pension funds, 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.
NPS, which oversees South Korea's public pension assets, is the world's third largest pension fund. As of April 2019, it has total assets under management of around $600 billion, of which $200 billion is invested globally across 68 markets.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of June 30, 2019, BNY Mellon had US$35.5 trillion in assets under custody and/or administration, and US$1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
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