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Empresas y finanzas

BNY Mellon to shut derivatives sales, trading business: Bloomberg


    (Reuters) - Bank of New York Mellon Corp told a group of employees on Tuesday that it is shutting its derivatives sales and trading business, Bloomberg reported.

    The decision affects about 50 people, almost all in New York, Bloomberg said, citing a person familiar with the matter.

    Employees were told in a meeting earlier this month to expect changes so that BNY Mellon could focus on its core business of custody and collateral services, said the person.

    About 20 positions will be cut this year, another person briefed on the plans told Bloomberg.

    BNY Mellon has decided to exit the derivatives sales and trading business that operates as part of its global markets group, Bloomberg quoted BNY Mellon spokesman Ron Sommer as saying.

    Bank of New York Mellon was not immediately available for comment after regular business hours.

    (Reporting By Sudarshan Varadhan)