BNY Mellon and SNB Capital have gone live with their combined global securities services offering to institutional and large asset owners based in the Kingdom of Saudi Arabia (KSA). This comes after the 2020 agreement in which NCB Capital (now SNB Capital, following the merger with Samba Capital), KSA’s largest custodian, struck an alliance with BNY Mellon. The alliance aims to address the demand to adopt global best practices of segregated asset management, brokerage and custody functions following the launch of the KSA’s independent custody model in 2017. SNB Capital is the securities, asset management and investment banking arm of Saudi National Bank, KSA’s largest commercial bank.
