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