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BNY Mellon number one fund administrator in Ireland for third year

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BNY Mellon, a provider of asset management and securities servicing, has maintained its position as the number one fund administrator in Ireland with assets under administration totalling USD270.4bn across 498 funds, according to Lipper’s 2010 Ireland Fund Encyclopaedia.

The annual report by Lipper, the Thomson Reuters research company, reveals that for combined Irish domiciled and non-Irish domiciled funds, BNY Mellon has an 18.75 per cent market share by asset value.

BNY Mellon recently acquired PNC Global Investment Servicing. According to Lipper, if this merger had taken place by 30 June, the total assets under administration for the new entity would have been USD344.3bn with a market share of 23.8 per cent.

This is the third year in which BNY Mellon has participated in the survey and the third year in succession the company has been named number one in Ireland.

"This number one ranking underlines client confidence in BNY Mellon and our unwavering focus on service excellence and product innovation here in Ireland," says Ross Whitehill, head of offshore management, BNY Mellon Asset Servicing.

"Looking to 2011, the global regulatory metamorphosis will continue, transforming the funds industry and the support managers subsequently need from their administrators. It has never been more important than today to know your market positions, values, counterparties and exposures. We are making strong investments to ensure our clients continue to have access to the most sophisticated risk analytical, measurement and reporting tools they need to address the new regulatory regime."

BNY Mellon opened its first office in Ireland in 1994 and received approval from the Irish Financial Regulator to establish a new bank licensed entity in Ireland in 2009. The company currently employs over 1,700 employees in Ireland, located in Cork, Wexford, Navan and Dublin.

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