BNY Mellon Breaks Ground to Expand Tennessee Processing Center
NASHVILLE, September 19, 2012 BNY Mellon, the global leader in investment management and investment services, today broke ground for the expansion of its existing Tennessee Processing Center to increase the firm's global technology infrastructure. This location, along with other processing centers in the U.S., Europe and Asia, provide 24/7 support of the company's operations in more than 100 key markets in 36 countries.
"Nashville has proven to be an excellent location for us and we're proud to be a key player in the continued economic growth of the region. Today's groundbreaking is evidence of our commitment to the state and city," said Kurt Woetzel, global head of operations, technology and collateral services for BNY Mellon. "As our businesses expand globally, we realized that we needed additional processing capacity and determined the best location would be right here at our existing Tennessee location."
BNY Mellon's current Nashville location began operating in 2005 with about 60 employees and today has grown to approximately 200 employees in the region. Following completion of the project, the company will occupy nearly 500,000-square-feet of space locally, including more than 120,000-square-feet of world-class processing space designed specifically for high density processing solutions, using the latest in network technology. The expansion also will provide support for future generations of newer, faster equipment, which are focused on power-saving, greener efficiencies.
"This expansion would not have been possible without the cooperation and vision of state and local officials," Woetzel added. "They are to be commended for working with us and other service companies to establish our strong presence and tap into a great workforce."
The Tennessee and Nashville Departments of Economic and Community Development, the Tennessee Department of Revenue, the Tennessee Valley Authority and the Nashville Area Chamber of Commerce all supported BNY Mellon's expansion efforts. "These groups worked together to help us recognize that Tennessee is a competitive, attractive region for our plans for ongoing growth," Woetzel said.
"I want to congratulate BNY Mellon on this announcement and thank the company for their continued commitment and investment in our state," Tennessee Gov. Bill Haslam said. "Our goal is to become the No. 1 location in the Southeast for high quality jobs, and existing Tennessee companies are the cornerstone of job creation in our state, playing a significant role in helping to sustain and grow the economy."
"BNY Mellon has created new, high-quality jobs for our residents since establishing a presence here in 2005, and we appreciate the company's continued investment in our city," Nashville Mayor Karl Dean said. "Construction of an expanded processing center is an important investment in Nashville and a testament to the vibrancy of our city as an attractive place for the high-tech jobs of the future."
It's estimated that some 500 local construction jobs will be created by this expansion. Among the local firms providing services during the project include Barge Cauthen & Associates, civil engineering consultants; Carpenter Wright Engineers, structural engineering consultants; and Hawkins Development Company, site development consultants. Sigma7 Design Group is the architect of record and Holder Construction is the construction manager.
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 $27.1 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.5 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.
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/PRNewswire -- Sept. 19, 2012/
SOURCE BNY Mellon