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Mellon Bank is to buy ABN Amro's 50% share in ABN Amro Mellon Global Securities Services, the joint venture company established by the shareholders in 2003 to provide global custody and related services to institutions outside North America.
The transaction , which is subject to certain conditions including regulatory and other approvals , should close during Q3 2007, whereupon ABN Amro Mellon will become a part of The Bank of New York Mellon Corporation, the new company created by the merger of The Bank of New York Company and Mellon Financial Corporation.
Nadine Chakar, CEO of ABN Amro Mellon, will remain CEO of ABN Amro...