To provide collateral management for its $500 million deposits
The Bank of New York Mellon broker-dealer services has been selected by Aspire Defence, to provide collateral management of $500 million deposits. Aspire Defence is a joint venture between Carillion and KBR, helping to secure a project to deliver improved facilities and services for the British army in the UK.
Reportedly, the tri-party deal designed specifically for Aspire Defence, allows the company to continue to support the British Army. Aspire Defence is delivering Project Allenby/Connaught, an infrastructure PFI let by the ministry of defence. It has said that some GBP8 billion will be spent over 35 years on the project which will improve 20% of the British army’s quality of life, by providing modern, quality, fully serviced and purpose built working and living accommodation.
Art Certosimo, senior executive vice president and CEO of BNY Mellon broker-dealer services and BNY Mellon alternative investment services, said: “It highlights our ability to tailor our capabilities to the unique needs of Aspire Defence, helping them to continue to deliver a flagship project and move forward on improving services for the British army.”