BNY Mellon Appointed as Sponsored Depositary Bank by AIA Group Limited
NEW YORK, June 23, 2011 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment servicing, has been appointed as sole sponsored depositary bank by AIA Group Limited (AIA) for the company's American depositary receipt (ADR) program. Previously, AIA traded as an unsponsored ADR program serviced by multiple depositaries. Each AIA ADR represents four ordinary shares and trades on the U.S. over-the-counter market under the symbol "AAGIY." AIA's ordinary shares are listed on the Main Board of The Stock Exchange of Hong Kong under the stock code "1299."
AIA offers a comprehensive suite of products and services including retirement planning, life insurance and accident and health insurance to individuals. It also provides employee benefits, credit life and pension services to corporate clients. AIA and its subsidiaries comprise the largest independent publicly listed pan-Asian life insurance group in the world, with subsidiaries and operations in 14 markets in Asia Pacific and a joint venture in India. Through a network of more than 260,000 agents and over 21,000 employees, AIA serves the holders of over 23 million individual policies and over 10 million members of group schemes. On June 7, 2011, AIA became a constituent stock of the Hang Seng Index.
"AIA is the third large insurance group this year, and second in Asia-Pacific, to choose BNY Mellon in converting from an unsponsored to sponsored DR program," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business. "Sponsored programs can deliver additional value both in heightened visibility to global investors and in service, and we'll work closely with AIA management to support their outreach objectives."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
SOURCE BNY Mellon