BNY Mellon and NCB Capital team up to service major Saudi asset owners

NCB Capital’s alliance with BNY Mellon will meet the increasingly sophisticated demands of institutional clients, according to its chief executive. (NCB Capital)

LONDON: BNY Mellon and NCB Capital have struck an alliance to deliver combined banking services to major institutions and big asset owners in the Kingdom.
The partnership covers global custody and asset servicing activities and will seek to maximize NCB’s local expertise and BNY Mellon’s global reach.
The tie up will help to meet “the increasingly sophisticated demands of our institutional client base,” said Sarah Al-Suhaimi, CEO of NCB Capital.
BNY Mellon already works with a wide range of sovereign wealth funds, financial institutions, governments and other clients throughout the region, offering asset servicing, treasury and other functions.  
It has a branch office in the Dubai International Finance Centre and representative offices in the Abu Dhabi Global Market, Beirut, Cairo and Istanbul.
It also recently received conditional regulatory approval to establish a presence and open an office in Riyadh.