The Bank of New York Mellon (“BNYM”), the world's largest Global Custodian with over 20 Trillion USD in Custodial Assets, has appointed United for Africa Plc (UBA)as its Sub-Custodian in Nigeria for its Depositary Receipts Programmes (“DRs”). This appointment, according to a statement from UBA signed by Toyin Salami follows the successful outcome of a due diligence process.

This is said to be a landmark appointment which underscores the increasing confidence UBA enjoys in the global custody arena. It also supports the bank’s wider aspiration to be a recognised and respected player in the global financial services sector.

advertisement

UBA Global Investor Services (GIS) was established in September 2007 and already has Assets Under Custody of N50 Billion.

With a crop of highly trained and skilled personnel, superior systems and technology, GIS is positioned to render world-class custodial services to Institutional Investors, Global Custodians and Depositary Banks, as well as to Brokers/Dealers investing in Nigeria and the West African Economic and Monetary Union, which includes eight countries in Francophone West Africa.