| From Forbes.com: The Bank of New York Mellon created a new Sovereign Institutions Group with the focus of providing asset management and advisory services for sovereign wealth funds, sovereign pension plans, central banks, monetary authorities and other sovereign-owned entities.
BNY Mellon primarily competes with State Street, JPMorgan Chase and Citigroup in areas like providing investment servicing (asset servicing, issuer services, clearing services) and investment management services to institutional investors around the world..............................................Full Article: Source
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