Custodian banks take another look at FXPB

Others likely to follow BNY Mellon after decade of retrenchment

One executive likened BNY Mellon’s move to launch a foreign exchange prime brokerage (FXPB) service to a man running back into a burning building that everyone else is fleeing from. It’s an extreme comparison but it’s an understandable one. In recent years, many of the big PB players have scaled