NEW YORK, May 13, 2013 /PRNewswire/ -- BNY Mellon, the
global leader in investment management and investment services, has
been appointed by Westpac Banking Corporation as the successor
depositary bank for its American depositary receipt (ADR) program.
Each Westpac ADR represents five ordinary shares and trades on the
New York Stock Exchange under the symbol "WBK." Westpac's
ordinary shares trade on the Australian Securities Exchange under
the symbol "WBC."
Westpac is one of four major banking organizations in
Australia and one of the largest
banking organizations in New
Zealand. It provides a broad range of banking and financial
services in these markets, including retail, business and
institutional banking and wealth management services. Westpac has
branches, affiliates and controlled entities throughout
Australia, New Zealand and the Pacific region, and
maintains branches and offices in some of the key financial centers
around the world.
"The U.S. is a key strategic market for Westpac in terms of our
investor relations efforts," said Philip
Coffey, Westpac's chief financial officer. "Westpac has a
long history of working with U.S. investors and is looking forward
to continuing to build its ADR program with the assistance of BNY
Mellon."
"We've seen growing interest from Australian companies in
launching a DR program to improve access for global investors
seeking portfolio diversification," said Christopher M. Kearns, CEO of BNY Mellon's
Depositary Receipt business. "Our appointment by Westpac shows
their commitment to American investors, and we will tailor a
program to help them better tap into this important capital
market."
BNY Mellon acts as depositary for more than 2,700 American and
global depositary receipt programs, acting in partnership with
leading companies from 68 countries. BNY Mellon is committed to
helping securities issuers access the world's rapidly evolving
financial markets and delivers a comprehensive suite of depositary
receipt services. Learn more at www.bnymellon.com/dr
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 management and investment services in
36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or
administration, and $1.4 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create trade, hold, manage, service,
distribute or restructure investments. BNY Mellon is the corporate
brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn
more at bnymellon.com, or follow us on Twitter @BNYMellon
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