BNY Mellon obtains banking license in Ireland

BNY Mellon, a provider of asset management and securities services, has received approval from the Irish Financial Regulator to establish a new bank licensed entity in Ireland. The new entity will be known as The Bank of New York Mellon Ireland.

The licence allows BNY Mellon to provide a wide range of banking services to its institutional clients and the broader market, and will also expand the range of capabilities it can offer from Ireland to local and global clients.

In addition to his role as country executive for Ireland, Joe Duffy will take on the role of CEO of the new bank. He will continue to be based in Dublin, Ireland.

Tim Keaney, chairman for Europe at BNY Mellon, said: "This is an important step in enhancing the services we offer from Ireland and in achieving our vision as one of the leading international financial services firms in the marketplace. Receiving this bank license will allow us to step up to the next level and we are very excited about our future plans here."

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