Equiniti and BNY Mellon to form share scheme alliance
Employee share plan administrators Equiniti and BNY Mellon Shareowner Services have entered into discussions to form a strategic alliance that will enable both firms to provide enhanced product offerings.
As part of BNY Mellon's issuer services group, BNY Mellon Shareowner Services provides corporate equity solutions and employee share plan administration in the United States. Equiniti is a UK provider of share registration services, employee share plan administration and business process outsourcing (BPO) solutions.
The alliance will provide BNY Mellon Shareowner Services’ multinational clients with share registry, employee share plan and corporate action solutions in the UK, while Equiniti’s client base will have access to BNY Mellon Shareowner Services’ suite of transfer agency, employee share plan and corporate actions solutions in the US.
Wayne Story, chief executive officer at Equiniti, said: “We are very excited at the prospect of working with BNY Mellon Shareowner Services.
“Our strategic focus is on [the] UK and our clients will benefit from their industry-leading experience, extensive product offering and local on-the-ground operations. This fits with our strategy of developing strategic alliances across all the markets we operate within.”
Samir Pandiri, chief executive officer at BNY Mellon Shareowner Services, added: “This alliance is an important step in our objective to deliver integrated, global solutions through leading local providers.
“We are excited to align with Equiniti. Our two firms have complementary product offerings in two major markets, and both organisations bring unique benefits to our alliance.”