BNY Mellon and NCB Capital Partner to Service Key Saudi Investor Giants
Posted on 10/06/2020
Bank of New York Mellon Corporation (BNY Mellon) and NCB Capital inked a special alliance to promote combined banking services to major institutions and large investors in Saudi Arabia. This unique partnership covers global custody and asset servicing activities. The alliance hopes these investors could in effect have all of the custody needs handled by NCB Capital and BNY Mellon in the region versus employing a wide range of providers.
In July 2020, BNY Mellon received conditional regulatory approval to establish a presence and open an office in Riyadh.
NCB Capital is a unit of National Commercial Bank. NCB Capital is Saudi Arabia’s biggest asset manager and investment bank.
