The Bank of New York Mellon announced the opening of a branch in the Spanish capital, Madrid, headed by the President of the Blockchain Tax group of the European Fund and Asset Management Association “EFAMA”, the famous Mariano Giralt.
Giralt will serve as industry director after serving as global director of taxation and regulation at BNY Mellon and will also be the digital leader for Europe, the Middle East and Africa “EMEA”.
In relation to the announcement, Leonique van Houwelingen, CEO of Bank of New York, Mellon SA NV noted that the “The opening of the Madrid office reflects the importance of our relationship in Iberia”, see pAccording to the El Español newspaper.
It is worth noting that Mariano Giralt joined BNY Mellon in 2011 and has worked with JP Morgan Chase as well as the prestigious Spanish law firm Cuatrecasas in the past.
His position within the new branch, combined with his knowledge of taxes and their application in blockchain technology, could mean an interesting step within traditional banking and local blockchain companies.
Giralt will have Ana Arias as Deputy Director in the new Madrid office. Arias, as the press release shows, Arias has been connected to the bank’s financial ecosystem since 2013 and has continued to develop her professional career at the renowned Santander Bank, performing various tasks.
The European Bank has various offices in the region and works with a wide variety of companies, asset managers, insurance companies and other clients in Europe.
EFAMA paying close attention to the blockchain
The European Fund and Asset Management Association “EFAMA” has been closely following the development of blockchain technology and its impact on the fund industry during Giralt’s tenure.
In October 2018, EFAMA published its fifth fund processing report, which presented the recommendations of the Committee on Trading, Trading Reports and Market Infrastructure of the fund industry at that time.
This report, first published in 2005, made recommendations in key areas to facilitate and improve the level of automation and straightforward “STP” processing in the European fund industry.
In the recommendations, the association noted that it recommended automation in the areas of “API” application programming interfaces and “DLT” distribution book technology based on open global ISO standards.
EFAMA is the representative association of the European investment management industry and represents 28 member associations and 62 corporate members. The organization was founded in 1974 under the name “FEFSI” of the European Federation of Investment Funds and Companies.
Mariano Giralt is responsible for the head of the Blockchain for Taxes TF of the association from June 2020 to June 2022.