LONDON, Nov. 27, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been named the world's number one custodian for the second consecutive year in the Hedge Funds Review Service Provider Rankings Survey 2012.
The Service Provider Rankings are determined by the votes of hedge fund managers and investors from around the world, with over half of all respondents managing more than $1 billion. They recognise the industry's leading suppliers of custody, fund administration, accounting, legal and broking services, and acknowledge the increasingly vital role that service providers play in an industry that is facing rising pressure in the form of a dynamically changing regulatory landscape.
Margie Lindsay, editor of Hedge Funds Review, said: "The top ranking for BNY Mellon in the custody category reflects the importance the hedge fund industry is giving to this function. As the role of the custodian increases with the introduction of European legislation, BNY Mellon's position will continue to expand. The firm's result is even more impressive given the level of response, with over half of those voting managing more than $1 billion and almost a fifth over $20 billion. The vast majority of respondents were made up of C-level executives as well."
Marina Lewin, BNY Mellon global head of sales for Alternative Investment Services and Asset Servicing-Americas , said: "With hedge funds placing increasing importance on how they manage the custody of assets, it's gratifying to be recognised as the world's top hedge fund custodian. Our prime custody solution is a perfect example of the type of service we've developed to meet the demands of today's hedge funds and investors, and our assets under prime custody have grown strongly as a result. This award attests to the quality and breadth of our offerings as we support clients through challenging market conditions and greater regulatory scrutiny."Hedge Funds Review is an international publication, with a circulation of 5,000, which provides comment and opinion, strategic analysis, in-depth interviews and news.