Bjarne Tellmann is senior vice president and general counsel at GSK Consumer Healthcare, a joint venture that combines the consumer brands of GSK and Pfizer. He speaks to Global Finance about the intersectionality of his work.
Household saving is defined as the difference between a household’s disposable income and its expenditures on goods and services. During the pandemic it rose to historical highs everywhere.
On October 27, Global Finance conducted a Sub-custody Roundtable, moderated by publisher and editorial director Joseph Giarraputo. The Roundtable agenda covered crucial topics in the sub-custody sector including: the global and regional impact on the COVID-19 pandemic on sub-custodians; the effect ...
In an attempt to boost trading of illiquid corporate bonds, BNY Mellon and HSBC are partnering with trading-technology provider Algomi to create new trading opportunities for custody clients and the wider market. Market volume has declined, even as outstanding corporate debt has increased in recent years.
“By enabling the market to access potential trade matches with our custodial clients, we can play a significant role in not only increasing our clients’ access to liquidity but in improving the infrastructure of the entire market,” says Michelle Neal, CEO of BNY Mellon Markets.
The collaboration with Algomi will give the custody bank’s clients the ability to make select corporate bond holdings information available anonymously on the Algomi Honeycomb network of market participants.
Niall Cameron, global head of corporate and institutional digital at HSBC, says, “By collaborating with [Algomi] in parallel with a leading US custodian business, we can use digital innovation to create a multitrillion dollar bond pool that spans the globe.”
BNY Mellon and HSBC plan to introduce the new system to clients early next year, and it could potentially be expanded to include other custodians.