Computershare to buy BNY Trust Company of Canada
April 25 2024 - 11:30AM
Business Wire
Computershare Limited (ASX: CPU) has announced that it has
agreed to acquire BNY Trust Company of Canada from BNY Mellon
(NYSE: BK) through its Canadian trust company, Computershare Trust
Company of Canada.
BNY Trust Company of Canada was established in 2001 and offers a
range of trust and agency services in Canada to clients, including
issuers, corporations, banks and government entities.
“We’re delighted to be bringing the experienced team at BNY
Trust Company of Canada on board,” said Frank Madonna, CEO of
Computershare Corporate Trust.
“The acquisition is squarely in line with our core strategy of
building the scale and capability of our corporate trust operation
and demonstrates our commitment to the provision of corporate trust
services in North America.”
"Computershare is the right choice for BNY Trust Company of
Canada, and we are confident in their ability to ensure our clients
continue to receive best-in-class service. In turn, we remain fully
focused and committed to our global Corporate Trust franchise
outside Canada,” said Cécile Nagel, Global Head of Corporate Trust,
BNY Mellon.
“We’ve invested heavily in our corporate trust business in
recent years, including the acquisition and integration of the
business from Wells Fargo, and we’re well placed to provide
continuity of services through our highly experienced teams and
market-leading operations,” said Toni De Luca, Head of Corporate
Trust – Canada at Computershare.
BNY Trust Company of Canada is based in Toronto and has a
portfolio of around 1,800 corporate trust mandates.
Computershare said it expected all relevant staff members to
transfer as part of the deal, with new employees being able to
operate from its own Toronto office.
The deal is scheduled to complete in the second half of calendar
year 2024, subject to regulatory notifications and approvals and
other customary closing conditions.
Computershare and BNY Mellon will work collaboratively to ensure
the smooth transition of the business and staff.
For more information, see Corporate Trust
(computershare.com)
1: For any media inquiries, contact Yin Chang-D’Arcy, +1 (201)
680-3464, media@computershare.com 2: For high resolution images of
spokespeople, visit http://cpu.vg/spokespeople.
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version on businesswire.com: https://www.businesswire.com/news/home/20240425124476/en/
Yin Chang-D’Arcy +1 (201) 680-3464 media@computershare.com
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