RIYADH – Sharikat Mubasher:  The Bank of New York Mellon (BNY Mellon) announced obtaining a Regional Headquarters (RHQ) license from Saudi Arabia’s Ministry of Investment (MISA).

Based in Riyadh, the new RHQ will coordinate the custodian bank’s strategic, administrative, and corporate services across the Middle East, according to the Bank’s announcement.

BNY Mellon has operated in Saudi Arabia for decades under a Capital Markets Authority licence, offering global custody, custody FX, global risk solutions, and institutional accounting. Its regional footprint extends to the UAE, Kuwait, Qatar, Bahrain, and Oman.

Hani Kablawi, Head of BNY International, said: “The Kingdom is delivering on Vision 2030, and we will continue to bring our expertise across the financial lifecycle to help Saudi Arabia achieve its ambitions. Today’s announcement underscores the Middle East’s strategic importance in BNY’s international growth plans and our commitment to being an enduring partner to clients across the region.”

As of March 31, 2025, BNY Mellon held $53.1 trillion in assets under custody and/or administration and $2 trillion in assets under management. In September 2024, the bank launched Alts BridgeSM, a platform combining data, software, and services to simplify access to alternative and private-market investments.