BNY Mellon Expands its Currency Administration Team in London with Appointment of James A. Webb
Newest addition to the London team brings a wealth of international finance experience and currency management expertise to BNY Mellon’s growing currency administration business
Jan 27, 2014
NEW YORK and LONDON, 27 January 2014 — BNY Mellon, the global leader in investment management and investment services, has appointed James A. Webb to BNY Mellon Global Markets’ Currency Administration team in London. Webb joins BNY Mellon from the currency management business of State Street Bank Europe Ltd.
Reporting to John Murray, London-based global head of sales for BNY Mellon’s Currency Administration business, Webb will be responsible as managing director for the development and growth of BNY Mellon’s currency administration business in Europe, the Middle East and Africa (EMEA). Webb brings a wealth of international finance experience to his new position, having worked in a number of industry segments during his 17-year career, including global markets, asset servicing, and asset management, carrying out responsibilities that included business analysis and risk, product development, operations management and sales and relationship management.
“Our growth as a provider of currency administration services reflects our focus on providing hedging services as a complement to the investment management and investment services relationships our clients have with BNY Mellon. That aspect of our business makes a seasoned professional with James’ extensive industry experience an especially valuable addition to our team,” said Ed McGann, managing director and global head of currency administration for BNY Mellon.
“BNY Mellon has a strong position in EMEA as a currency administration services provider to fund managers and pension plans. The addition of Jim makes our team even stronger and will help us meet our aggressive growth objectives,” said John Murray.
With foreign exchange sales and trading desks in Hong Kong, Tokyo, Taipei, Seoul and Shanghai, as well as New York, Boston, Pittsburgh, London and Brussels, BNY Mellon Global Markets has access to more than 100 countries, and is recognized by industry publications as a global leader in FX research and FX technology. Fully aligned with BNY Mellon’s FX capabilities, BNY Mellon Global Markets’ currency administration business combines the technological strength of BNY Mellon's proprietary iHedge® software with the support of a world-class processing team to provide clients with access to an automated, web-based currency administration platform. Allowing clients to make better use of their time and resources, this outsourcing service enables clients to negotiate predefined spreads for trade execution; delivers a disciplined approach to calculating and executing hedge adjustments; provides comprehensive reporting capabilities; and reduces operational risk and exposure.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35countries and more than 100 markets. As of December 31, 2013, BNY Mellon had $27.6 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.