The Bank of New York Mellon (BNY) has obtained a regional headquarters (RHQ) licence from the Ministry of Investments in Saudi Arabia (MISA).

In a statement, the company said that this new regional headquarters, located in Riyadh, will facilitate its strategic, administrative, and corporate services across the Middle East region.

BNY has been providing asset servicing solutions in Saudi Arabia, which include global custody services, global risk solutions, custody FX, and institutional accounting. All these services are offered under a “Capital Markets Authority” licence.

The company has maintained a presence in Saudi Arabia for several decades, collaborating with clients in the region, including the UAE, Kuwait, Qatar, Bahrain, and Oman.

BNY International head Hani Kablawi said: “The Kingdom of Saudi Arabia is delivering on its Vision 2030, and we will continue to bring BNY’s expertise across the financial lifecycle to help the KSA achieve its ambitions.

“Today’s announcement underscores the strategic importance of the Middle East in BNY’s international growth plans and our commitment to being an enduring partner to our clients across the region.”

Currently, BNY Mellon serves over 90% of Fortune 100 companies and almost all of the top 100 banks worldwide.

As of 31 March 2025, BNY Mellon had $53.1tn in assets under custody and/or administration and $2tn in assets under management (AUM).

In September 2024, BNY launched Alts BridgeSM, a comprehensive solution that combines data, software, and services.

The aim is to cater to the demand from wealth intermediaries seeking streamlined access to alternative and private market investments.

Sign up for our daily news round-up!

Give your business an edge with our leading industry insights.