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Denmark's Nykredit transfers depository business to BNY Mellon

Denmark’s Nykredit transfers depository business to BNY Mellon
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BNY Mellon agreed to acquire Danish financial firm Nykredit s depository services business, a spokesman for the custody giant confirmed.
Terms of the deal were not disclosed.
Subject to regulatory approval, BNY Mellon will provide depository services such as safekeeping and monitoring directly to clients in Denmark. The agreement is the latest step in BNY Mellon s international growth strategy and commitment to the Nordics, following the opening of a branch in Copenhagen. BNY Mellon and Nykredit have worked together since 2008, providing custody and depository services, respectively, to Danish clients.
BNY Mellon anticipates a short period of transition, since many of the clients assets are already under its custody, a BNY Mellon spokesman said. ....

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