BNY Mellon awarded banking licence in Brazil
BNY Mellon has been granted a commercial banking licence by the Brazilian Central Bank that will enhance the company's securities servicing capabilities in the country.
The licence has been granted to BNY Mellon Banco SA.
BNY Mellon will initially offer custody services for non-resident investors and private equity funds, as well as deposit-taking, collateral and agency services through its corporate trust business.
"Brazil represents one of our most important strategic markets globally and our new banking licence will significantly enhance our ability to meet the securities servicing needs of our clients," says Gerald Hassell, chairman, president and chief executive officer of BNY Mellon. "We are confident that our commitment to Brazil will provide meaningful benefits to our clients, who value our financial strength, wide range of global services, and local expertise and experience."
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