BNY Mellon has been selected by MKB Bank Zrt. (MKB) as global custodian for more than EUR725m (USD1bn) in assets across 20 markets. MKB provides local securities services, with a high proportion of Hungarian pension fund assets.
Zsuzsanna Bereczki, managing director responsible for treasury and asset management at MKB Bank, said: "We were looking for a provider that would allow us to expand our custody network and access a broader range of services while enhancing the scope of custody-related value added products we can offer to our clients. With its commitment to long-term partnership, BNY Mellon will play a key role in our successful implementation of that two-pronged strategy."
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