BoNY/Mellon Tops Debt Trustee Ranking
New York-The Bank of New York Mellon is now the No. 1 overall trustee for all U.S. debt for the third quarter of 2008, taking the lead across all significant segments such as long-term municipal, high-yield, investment grade, structured and convertible debt.
According to Thomson Financial, during the first nine months of 2008 the asset management and securities servicer acted as trustee for over 1,300 issues, covering 30% of the market, valued at over $411 billion.
The firm services all major debt categories, including mortgage- and asset-backed securities, collateralized debt obligations, derivative securities and international debt offerings. Its corporate trust business services $12 trillion in outstanding debt.