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Intesa Sanpaolo selects Bank of New York Mellon as successor depositary bank

Intesa Sanpaolo, an Italian banking group, has selected The Bank of New York Mellon as the successor depositary bank for its American depositary receipt program.

Each Intesa Sanpaolo American depositary receipt represents six ordinary shares. The Bank of New York Mellon’s depositary receipt business is conducted through The Bank of New York subsidiary, which acts as depositary for more than 1,300 American and global depositary receipt programs, acting in partnership with major companies from 63 countries.

Christopher Sturdy, executive vice president and head of depositary receipt (DR) division at The Bank of New York Mellon, said: As the depositary for 72% of all sponsored DR programs in the banking sector, we will leverage our expertise to help Intesa Sanpaolo heighten the visibility of its DR program throughout the global markets.