The two pension schemes of British Airways, with a combined value of approximately $26 billion, have taken OTC derivatives and collateral management services from BNY Mellon.
The trustee bank's global collateral services used by BA include liquidity sourcing, counterparty management, and securities financing tools, which a greater number of pension funds now require as they balance traditional, listed investments with deployments of capital in more esoteric and illiquid OTC markets.
"The needs of global retirement systems have grown increasingly sophisticated given ongoing regulatory developments, the emergence of new, more complex financial instruments and today's cross-border investment environment. As an organization, we're focused on delivering services to work with clients at every stage of the investment lifecycle by trading, holding, managing, servicing and distributing their financial assets," says Nadine Chakar, executive vice president at BNY Mellon.
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails