BNY Mellon Forms Global Collateral Services

BNY Mellon has created a unit to help clients manage collateral.

Global Collateral Services serves broker/dealers and institutional investors facing rapidly expanding collateral management needs as a result of current and emerging regulatory and market requirements. The unit is led by Kurt Woetzel, senior executive vice president and head of BNY Mellon’s Global Operations and Technology. It brings together the firm’s broker/dealer collateral management, securities lending, collateral financing, liquidity and derivatives services teams. 

According to Gerald L. Hassell, BNY Mellon’s chairman, president and chief executive, global regulations and market dynamics are mandating new and complex requirements for collateral use, forcing both sell-side and buy-side firms to reevaluate their need for and use of collateral. “We have a compelling opportunity to build on our industry leading position in this space, given the clear and growing client requirements for secure, efficient and reliable collateral services,” Hassell said.

BNY Mellon also operates a proprietary global collateral management technology platform to handle asset types denominated in any currency. It processes an array of transactions, including derivatives, tri-party repurchase agreements, portfolio swaps and collateralized loans, as well as a variety of margin management activities.