BNY Mellon Asset Servicing Selected as Global Custodian for National Pension Service in Korea

LONDON, Aug. 2 /PRNewswire-FirstCall/ -- BNY Mellon Asset Servicing,the global leader in asset servicing, has been selected by National PensionService of Korea, to provide global custody, securities lending and otherservices. National Pension Service, currently the largest Asian public pensionfund outside Japan, was established in 1988 under the National Pension Actand has KRW207 trillion (approximately US$224 billion) assets undermanagement (June 2007). This is projected to grow to approximately KRW415trillion (approximately US$449 billion) by 2012. National Pension Servicewill expand its investments in bonds and stocks overseas up to 20 percentof its total assets by 2012. Tim Keaney, co-head of BNY Mellon Asset Servicing, said: "We havealways been committed to being the preferred partner of National PensionService, and helping them succeed with their global investments. Weunderstand their desire to rapidly expand the number of markets and we willbe able to help provide access to many of the world's fastest growingmarkets." Keaney noted the enormous potential growth in pension schemes in Koreaand their need to expand investments to global markets aggressively asKorean investors, from retail to institutional investors, have become ever-increasingly sophisticated. The Bank of New York Mellon has been conducting business in Korea fornearly 20 years. The company has a full branch office in Korea, and workswith a wide range of banks, government entities, and other financialinstitutions throughout the nation. Notes to Editors BNY Mellon Asset Servicing offers clients worldwide a broad spectrum ofspecialised asset servicing capabilities, including custody and fundservices, securities lending, performance and analytics, and executionservices. BNY Mellon Asset Servicing provides services through The Bank ofNew York, Mellon Bank, N.A. and other related companies. The Bank of New York Mellon Corporation is a global financial servicescompany focused on helping clients manage and move their financial assets,operating in 37 countries and serving more than 100 markets. The company isa leading provider of financial services for institutions, corporations andhigh-net-worth individuals, providing superior asset management and wealthmanagement, asset servicing, issuer services and treasury services througha worldwide client-focused team. It has more than $20 trillion in assetsunder custody and administration and more than $1 trillion in assets undermanagement. Additional information is available athttp://www.bnymellon.com.