BNY Mellon and World Economic Forum Partner to Shape the Future of Capital Markets
BNY Mellon announced a partnership with the World Economic Forum aimed at enhancing the global financial system's resilience and inclusivity. This collaboration is crucial as industry leaders respond to complexities intensified by the COVID-19 pandemic. Akash Shah, BNY Mellon's Head of Strategy, emphasized the need for change to achieve a more equitable future. The initiative aligns with a growing trend towards stakeholder capitalism, which encourages public-private alliances to address pressing global financial issues. As of December 31, 2020, BNY Mellon managed $41.1 trillion in assets under custody.
- Strategic partnership with World Economic Forum to enhance financial system resilience.
- Focus on inclusivity aligns with the trend towards stakeholder capitalism.
- BNY Mellon manages $41.1 trillion in assets under custody, showcasing significant market presence.
- None.
NEW YORK, March 22, 2021 /PRNewswire/ -- BNY Mellon announced today a collaboration with the World Economic Forum to address the challenges of an increasingly complex and interdependent world. Through a partnership, BNY Mellon will work with the World Economic Forum's multi-stakeholder community on initiatives aimed at building a more efficient, resilient and inclusive financial system. The partnership comes at a critical time for industry leaders to rethink and rebuild systems in the post-COVID context and recognizes the importance of engaging a global, cross-industry ecosystem.
Akash Shah, Head of Strategy and Global Client Management at BNY Mellon, said: "Capitalism and the global financial system are at a crossroads. It's a critical moment in history for companies to drive change and shape a more equitable future for the global community. The Forum provides a platform for companies to start new alliances and mobilize the resources needed to make the world more sustainable and inclusive. We're excited to be part of this collaboration."
Matthew Blake, Head of the Platform for Shaping the Future of Financial and Monetary Systems at the World Economic Forum, said: "We are delighted to be welcoming BNY Mellon into the Forum's Financial and Monetary Systems Platform, which is working to address pressing issues shaping the global financial system. This partnership reflects a broader trend of companies shifting focus from shareholder to stakeholder capitalism, leading to more public-private alliances and multi-stakeholder collaboration. The Forum is excited to grow as a trusted platform that enables such cooperation and supports a more inclusive and resilient financial system."
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Dec. 31, 2020, BNY Mellon had
About World Economic Forum
The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).
Contacts
Media
Madelyn McHugh
+1 212 635 1376
madelyn.mchugh@bnymellon.com
Analysts
Magda Palczynska
+1 212 635 8529
magda.palczynska@bnymellon.com
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SOURCE BNY Mellon
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