Michael Cole-Fontayn

Member Article

BNY Mellon chooses Manchester for new global payment processing hub

BNY Mellon has selected its Manchester site as the global processing centre for all CHAPS payments.

CHAPS is the UK payments system that processes and settles both systemically important and time-dependent payments in sterling.

BNY Mellon’s EMEA Chairman, Michael Cole-Fontayn, opened the new Manchester global processing centre - and the first payment processed was to local charity Salford Foundation. The payment of £465 was raised by employees of BNY Mellon through a ‘dress-down’ day, one of many fundraising activities taking place throughout the year.

Mr Cole-Fontayn said: “Manchester has all the benefits and attractions of some of the most vibrant cities in the world. World class universities, excellent infrastructure and connectivity, a thriving cultural scene, a broadening range of job opportunities, all which act as a magnet for highly skilled professionals seeking a successful career and good quality of life.

“Manchester is one of the largest financial and professional hubs in the UK outside of London. This makes Manchester a highly compelling location for global financial institutions, like BNY Mellon, seeking to attract the industry’s top talent.”

Steve Hayes-Allen, Manchester Site Executive and Regional Head, Northern UK at BNY Mellon, added: “Whilst we continue to grow, our focus today is more on the quality and complexity of roles posted here in Manchester, providing aspirational career paths for our people who enjoy working here and wish to develop their careers with us,.

“The launch of our new CHAPS facility in Manchester is clear evidence of this growing role complexity, as well as our company’s continued investment in the city.”

BNY Mellon’s Manchester office is one of six designated GDCs, or ‘centres for client service and operational excellence’.

Manchester is the company’s second largest location in the UK and employs over 1,200 people. BNY Mellon’s UK presence also includes offices in Liverpool, as well as Brentwood, Edinburgh, Leeds, and Poole, and London, which is home to the company’s European headquarters.

Based on current daily values, BNY Mellon will clear more than £11.4 billion through its Manchester office, which is equivalent to more than four per cent of the average daily value of CHAPS for 2012. CHAPS processes over 92 per cent of all intra-bank payments (by value) in the UK. Over £70 trillion was processed through the system in 2013

This was posted in Bdaily's Members' News section by Simon Malia .

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