TACOMA, Wash. (April 19, 2012) -- LeMay – America’s Car Museum (ACM), which officially opens June 2, and BNY Mellon (BNYM), a financial services company with business interests in 36 countries, today signed a five-year agreement for BNYM to be an official ACM provider.
“Wealth management is a BNY Mellon specialty,” says ACM President and CEO David Madeira, “and a lot of people who own and maintain collector cars will certainly be interested in the expertise of a company that manages more than $1.2 trillion in assets. Collector cars, trucks and motorcycles are rolling works of art, and like any precious masterpiece, owners need to protect their investments.”
ACM, which will have 15 galleries housing more than 350 cars and motorcycles from private owners, corporations and the LeMay family collection, is a nine-acre campus, with the four-story, 165,000-sq. ft. museum as the hub. The Tacoma, Wash. facility, 25 minutes south of Seattle, includes a 3.5 acre show field – to host everything from vintage car events to rock concerts and drive-in movies – as well as a gift shop, banquet center and cafe, an educational center/library and rotating exhibits using cars, music, film and photos for displays.
“America’s Car Museum will be the home for collector cars that date back more than a century,” said Jim Barnyak, Regional President, BNY Mellon Wealth Management. “Our wealth management directors are experts in income and estate tax planning for collectors, ranging from the income tax consequences of owning and maintaining these vehicles, to estate planning opportunities for passing vintage cars to the next generation.”
BNY Mellon, the corporate brand of The Bank of New York, will provide financial planning services and materials for America’s Car Museum and, in conjunction with the Museum, will conduct a series of wealth management seminars for the collector car community. The first event took place Jan. 21 in Scottsdale, Ariz., coinciding with annual collector car auctions hosted by Barrett-Jackson, Gooding, RM and others.
ABOUT BNY Mellon (www.bnymellon.com)
BNY Mellon, a global financial services company focused on helping clients manage and service their financial assets, operates in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporation and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. As of December 31, 2011, it has $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.