BNY Mellon has signed a five-year agreement which will commence on May 1, with the 2013 Race formally titled as The BNY Mellon Boat Race. The company will replace Xchanging in the role, with its partnership due to expire following this year’s event on April 7. The Boat Race is a major London event which takes place on the River Thames between Putney and Mortlake in the University Easter holidays. The first Race took place in 1829 and it has been held every year since 1856 with the exception of the two World Wars. The current score between the two Universities is Cambridge 80, Oxford 76 with one dead heat.

Over 300,000 people watch the Race from the riverside and the event is televised live on BBC TV as well as being transmitted to over 200 countries around the world. Wednesday’s agreement will also see Newton, a BNY Mellon company and one of the UK’s leading investment firms, continue its sponsorship of the openweight Women’s Boat Clubs in a joint initiative that will bring the Women’s Boat Race to the Thames in 2015 to race on the same day and the same course as the Boat Race.

“In BNY Mellon we have a sponsor who values the history and heritage of the Race but is also committed to enhancing the event’s appeal to a UK and global audience,” said Robert Gillespie, chairman of the Boat Race Company. “Newton has provided incredible support in the development of the Women’s Boat Clubs over the past two years and we are very excited about the prospect of the Women’s Boat Race coming to London in 2015. We are greatly looking forward to working together with both BNY Mellon and Newton to further enhance and develop the event.”

Gerald Hassell, chairman, president and chief executive officer of BNY Mellon, added: “The Boat Race is one of the world’s most famous sporting events with a rich heritage, and it is a great privilege and pleasure for BNY Mellon to be the title partner. In addition, we are pleased that Newton’s continued support of the women’s race is to bring parity to the sport. Being able to bring the women’s race to the same stretch of river on the same day for the first time is a significant milestone, and will enhance the experience for everyone. This is good for rowing, for gender equality, and for sport as a whole.”