Riyadh – Mubasher: BNY Mellon and NCB Capital on Tuesday announced a strategic alliance to deliver global custody and associated asset servicing activities to institutional and large asset owners based in Saudi Arabia.
The new alliance will provide NCB Capital’s clients with local expertise together with access to BNY Mellon’s global custody, asset servicing, data, and technology capabilities, according to a press release.
“We are excited to announce this strategic alliance with NCB Capital and look forward to working together to support the financial and social agenda the kingdom has forged as part of its transformation, by sharing capabilities, resources, and practices via our new alliance,” said the CEO of BNY Mellon, Todd Gibbons.
“As KSA’s largest asset manager and investment bank, NCB Capital has a proven track record of successfully collaborating with global leaders across the asset management value chain. To that end, we are looking forward to working very closely with BNY Mellon to both deepen and broaden our securities services offerings to our clients,” added the CEO of NCB Capital, Sarah AlSuhaimi.
BNY Mellon works with numerous sovereign wealth funds, financial institutions, and governments region-wide. It has a branch office in the Dubai International Finance Centre (DIFC) and representative offices in the Abu Dhabi Global Market (ADGM), Beirut, Cairo, and Istanbul.
Recently, it received conditional regulatory approval to establish a presence and open an office in Riyadh, which will further support its collaboration efforts with NCB Capital and assist with the delivery of BNY Mellon’s global digital custody and data solutions.
