has said it plans to further raise the profile its corporate
trust business in the Middle East and North Africa, following
the appointment of Paul Farrell as head of sales and
appointed on Monday to head up the corporate trust division in
the Middle East and Africa region, based in Dubai.
"Paul’s remit is to further establish BNY
Mellon’s corporate trust business as one of the
leading providers of agency and trust services for conventional
and Islamic finance structures originating in the MENA region,"
a spokesperson for BNY Mellon told Global Investor.
In terms of
further hires, the bank said it will "continue to assess
opportunities as the market develops".
reports to Aidan Canny, the US firm's managing director of
regional markets and investment managers for corporate
replaces Brian Hoey, who has moved to BNY Mellon’s
global client management team in London, after serving in the
role since March 2014.
been at the custody bank since 2007, most recently heading up
the new business implementation team in Dublin which is focused
on structured finance and securitisation.
In his new
role, Farrell will oversee the bank’s corporate
trust relationships across Abu Dhabi, Beirut, Cairo, Dubai and
trust solutions in this region range from trustee and agent
roles on traditional bond issuance to escrow agent and loan
administration roles. Clients in the region include financial
institutions, private sector bond issuers and sovereign
BNY said last
month it had appointed Frances
Barney as global head of risk solutions, based
in New York. Barney replaces Debra Baker, who retired at the
end of 2016, having been in the role since February 2013.
The bank also
revealed on February 16 that ex-Societe Generale
banker Stephen Doyle had been
appointed to the newly created role of head of UK
institutional relationship development for asset servicing.