BNY Mellon obtains custody license in Saudi Arabia, plans to open new office
The license and the new office will enable the world’s largest custodian to capitalise on the opening up of Saudi Arabia’s securities market to foreign investors.
The license and the new office will enable the world’s largest custodian to capitalise on the opening up of Saudi Arabia’s securities market to foreign investors.
BNY Mellon is aiming to accelerate its digital plans for all of its asset servicing business, which it sees could help it win new clients.
The bank stated the year-on-year increase for the asset servicing business reflected higher foreign exchange and other trading revenues.
The two banks with leverage previously established bots for a new digital solution aimed at improving custody FX processes for emerging market currency trades.
The move continues BNY Mellon’s evolution of its core asset servicing business, where it sees providing data management services as the next competitive battleground.
BNY Mellon, Citi, and State Street take part in initiative designed to transform and automate the current capital markets infrastructure.
The hire is the latest appointment for BNY Mellon’s new-look asset servicing team, which has made a number of key changes to the business’s leadership this year.
Citi has centralised the management of big projects in different parts of the bank under a new ‘Project Management Office’.
New role for long-serving BNY Mellon asset servicing head, named a GC Legend in 2019.
The leadership changes sets out new roles and responsibilities focusing on strategy and client engagement for BNY Mellon's ETF servicing business.