06:06 AM EDT, 05/01/2025 (MT Newswires) -- Bank of New York Mellon ( BK ) said Thursday it has been granted a regional headquarters license by Saudi Arabia's Ministry of Investments.

The company said the new office in Riyadh will handle strategic, administrative and corporate functions for the region.

BNY Mellon added that it already delivers asset servicing products in Saudi Arabia, including custody, foreign exchange, risk and accounting services under a Capital Markets Authority license.