BNY Mellon Lands a Big Ally for Its Expansion in Saudi Arabia
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Bank of New York Mellon Corp., the world’s largest custody bank, is pushing deeper into Saudi Arabia through a deal with an arm of the country’s biggest bank.
The firm joined NCB Capital, a unit of National Commercial Bank, to seek institutional investors in the kingdom for BNY Mellon’s “global custody and associated asset-servicing activities,” according to a statement to be released Tuesday.