Bank of New York Mellon Corp. announced Monday that it has completed its acquisition of JPMorgan Trust Bank Ltd. in Japan from JPMorgan Chase & Co.
The price of the transaction, a result of Bank of New York Mellon's 2006 acquisition of JPMorgan Chase's global corporate trust business, was not disclosed.
Bank of New York Mellon plans to roll out its corporate trust products in Japan while continuing to offer the asset securitization services the trust bank already provides. The latter include asset trustee, cash management and fiscal agency services.
Bank of New York Mellon has been in Japan for almost four decades. Its products and services for Japanese investors include asset management, securities servicing and corporate trust.
Bank of New York Mellon's corporate trust business services $11 trillion of outstanding debt from 56 locations around the world.
