Banco Nacional de Costa Rica, a Costa Rica-based commercial bank has appointed BNY Mellon Asset Servicing to provide global custody for its $800m investment portfolio of equities, fixed income and US Treasury bonds.
BNY Mellon Asset Servicing offers clients with a spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.
Banco Nacional custody supervisor Jose Antonio Vasquez Rivera said BNY Mellon has a comprehensive set of services to complement custody. This breadth of offerings and BNY Mellon’s advanced securities servicing platform were among the reasons behind the decision to select the firm to provide custody for this portfolio.
BNY Mellon Asset Servicing managing director Michael Kalavritinos said the BNY Mellon is pleased to extend the relationship with Banco Nacional de Costa Rica. The company provided treasury services since 2003 to the bank, which also has served as BNY Mellon’s sub-custodian in Costa Rica.