Back Office & Operations

BNY Mellon picked by Goldman for PB custody


BNY Mellon has been selected by Goldman Sachs International to provide a segregated sub-custody service to Goldman’s prime brokerage clients in a move seen as a response to growing demand by hedge funds for independent safe-keeping of their assets.

BNY Mellon will provide the services through a new Montague Place Custody Services operation. The service will utilise BNY Mellon to hold and safe-keep clients’ assets in certain key markets while continuing to maintain Goldman’s prime brokerage and trading relationships.

“Prime brokers are looking to trusted providers like BNY Mellon to deliver a seamless offering that will safeguard their