The
information contained in this report is incorporated by reference into
the
registration statements on Form S-8 with Registration Nos. 333-81400,
333-84044,
333-128621, 333-128619, 333-127660 and 333-74703, the registration statements
on
Form F-3 with Registration Nos. 333-137691 and 333-104778 and the registration
statement on Form F-4 with Registration No. 333-108304.
Cautionary
Statement regarding Forward-Looking Statements
This
announcement contains forward-looking statements. Forward-looking statements
are
statements that are not historical facts, including statements about
our beliefs
and expectations. Any statement in this announcement that expresses or
implies
our intentions, beliefs, expectations or predictions (and the assumptions
underlying them) is a forward-looking statement. These statements are
based on
plans, estimates and projections, as they are currently available to
the
management of ABN AMRO. Forward-looking statements therefore speak only
as of
the date they are made, and we take no obligation to update publicly
any of them
in light of new information or future events.
Forward-looking
statements involve inherent risks and uncertainties. A number of important
factors could therefore cause actual future results to differ materially
from
those expressed or implied in any forward-looking statement. Such factors
include, without limitation, the conditions in the financial markets
in Europe,
the United States, Brazil and elsewhere from which we derive a substantial
portion of our trading revenues; potential defaults of borrowers or trading
counterparties; the implementation of our restructuring including the
envisaged
reduction in headcount; the reliability of our risk management policies,
procedures and methods; and other risks referenced in our filings with
the U.S.
Securities and Exchange Commission. For more information on these and
other
factors, please refer to our Annual Report on Form 20-F filed with the
U.S.
Securities and Exchange Commission and to any subsequent reports furnished
or
filed by us with the U.S. Securities and Exchange Commission.
The
forward-looking statements contained in this report are made as of the
date
hereof, and the companies assume no obligation to update any of the
forward-looking statements contained in this announcement.
Press
Release
Tim
Steele, Head of PR & Media Relations, ABN AMRO Mellon
(t)
+44 (0) 20 7163 5850 // (m) +44 (0) 7921 231 837
tim.steele@abnamromellon.com
Piers
Townsend, Head
of PR, Corporate & Institutional, ABN AMRO
(t)
+44 (0) 20 7678 8244 // (m) +44 (0) 7876 131 276
piers.townsend@uk.abnamro.com
London,
July 5,
2007
For
Immediate
Release
ABN
AMRO
and Mellon agree to change of ownership of
ABN
AMRO
Mellon Global Securities Services
Mellon
Bank N.A. has
agreed to purchase ABN AMRO’s 50% share in ABN AMRO Mellon Global Securities
Services B.V., the joint venture company established by the shareholders
in 2003
to provide global custody and related services to institutions outside
North
America.
The
transaction – which is subject to certain conditions including regulatory and
other approvals – is expected to close during Q3 2007, whereupon ABN AMRO Mellon
will become a part of The Bank of New York Mellon Corporation, the new
company
created by the merger of The Bank of New York Company and Mellon Financial
Corporation. Terms of the transaction were not disclosed.
Nadine
Chakar, CEO
of ABN AMRO Mellon, said: “This is a landmark day for ABN AMRO Mellon, which
since its inception has continually raised the bar – and clients’ expectations –
when it comes to delivering service excellence and product innovation.
As part
of The Bank of New York Mellon Corp. we will continue to provide our
clients and
staff with exciting new opportunities within the asset servicing
sphere.
“Following
its
decision to merge with The Bank of New York, Mellon was keen to explore
the
possibility of taking full ownership of ABN AMRO Mellon. Both shareholders
are
in agreement that
such
a change of
ownership is in the best interests of the JV and its clients. ABN AMRO
remains
one of our most important clients – we will continue to be ABN AMRO’s preferred
provider.”
Chakar
will retain
her responsibilities as CEO of ABN AMRO Mellon in tandem with her new
role
within The Bank of New York Mellon, where she will be Head of EMEA for
the BNY
Mellon Asset Servicing group. The ABN AMRO Mellon Managing Board will
likewise
remain in place.
She
added: “From the outset the JV was structured to avoid disruption in the event
of any change of ownership. Accordingly, ABN AMRO Mellon’s focus on our clients
will not waver, and we will maintain the highest degree of operational
continuity as we take our business to the next level. Relationships with
existing clients will not change, with client-facing staff retaining
their
current roles supporting the same clients.”
// ENDS
Notes
to the
Editor:
ABN
AMRO Mellon Global Securities Services B.V. is the 50-50 joint venture
established by ABN AMRO Bank N.V. and Mellon Financial Corporation in
2003. It
provides global custody and related services to institutions around the
world
outside North America. The company combines ABN AMRO’s worldwide servicing
presence with Mellon’s advanced technology and product capabilities. Value-added
products and services include compliance monitoring, investment accounting,
performance measurement and analytics.
Netherlands-based
ABN AMRO is a leading international bank with total assets
of
EUR 1,054.60 billion (as at 31 March 2007). It has more than 4,500 branches
in
53 countries, and has a staff of more than 107,000 full-time equivalents
worldwide. ABN AMRO is listed on Euronext and the New York Stock
Exchange.
The
Bank of
New York Mellon Corporation [NYSE: BK] is a global financial
services company focused on helping clients move and manage their financial
assets, operating in 37 countries and serving more than 100 markets.
The company
is a leading provider of financial services for institutions, corporations
and
high net worth individuals, providing superior asset and wealth management,
asset servicing, issuer services and treasury services through a worldwide
client-focused team. It has more than $18 trillion in assets under custody
and
administration, $1 trillion in assets under management and $8 trillion
in assets
under trusteeship. Additional information is available at
www.bnymellon.com.