Bank of New York Mellon's asset servicing arm has been given top ranking in seven categories in Global Investor magazine's annual global custody survey.

The bank was ranked as the best global custodian in the world, ahead of rivals Citi, Northern Trust and RBC Dexia

It also scored very highly in a number of other asset servicing classes, including the Pension Funds and North America categories.

The Global Investor survey results follow the bank's top ranking performance in Global Custodian magazine's 2007 survey.

Jim Palermo, joint chief executive of the bank's asset servicing arm, said: "Our focus on quality has been unwavering and has paid off handsomely.

"These latest survey results are testament to the high levels of dedication and creativity displayed by everyone on our asset servicing team."

The bank recently confirmed it is expanding its presence in Manchester with an additional 50,000 sq ft of office space in the city's prestigious Spinningfields business district.

It already employs 800 people at its offices in Piccadilly Gardens.