NCB Capital’s institutional and large asset owners based in Saudi Arabia will have access to BNY Mellon’s global custody, asset servicing, data and technology capabilities.
Tag: Middle East
The custodian has doubled its workforce in the Middle East over the past three years and adds more senior personnel to its ranks in the region.
Acquisition adds to Apex’s Middle East offering which has been significantly strengthened in recent years.
The new appointments will aim to bolster Northern Trust's operations in Saudi Arabia and the wider Middle East and Africa region.
As State Street celebrates its 50th anniversary in Europe, Middle East and Africa (EMEA), the development of locally-based solutions could be its greatest asset.
The new office will provide on-the-ground services to both institutional investors and asset managers, as it looks to strengthen its current service offering in the Middle East.
BNY Mellon will provide global custody for the first sub-fund tracking a Shariah compliant index in conjunction with S&P Dow Jones indices.
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.
Northern Trust will also support Sancta Capital’s trading programme through its outsourced agency-only brokerage service.
The appointments are the latest changes to BNP Paribas Securities Services’ senior management in recent months.