To create a single-source global custody solution to KLI
BNY Mellon Asset Servicing, a provider of securities servicing, has been selected as global custodian by Korea Life Insurance (KLI). BNY Mellon will provide a range of administration services to create a single-source global custody solution to KLI.
Kyung-Ro Lee, EVP at Korea Life Insurance, said: After an extensive due diligence process, we chose BNY Mellon because of its financial stability, strong technology reinvestment programme and its proven record in respect of service standards, client focus and relationship management.
Chong Jin Leow, head of Asia Pacific, BNY Mellon Asset Servicing, commented: It is important that institutions have a strong custodian that they can trust and help them navigate these turbulent market conditions. As a well-capitalised and visibly committed large player, with a long history of client service excellence, we are ideally placed to be the trusted partner Korean financial institutions need.
BNY Mellon has been providing a range of products and services to Korean institutional investors including securities servicing, trade finance, foreign exchange and other treasury services, for the past 20 years.