BNY Mellon Started Saudi Arabia Stock Picking on Market Opening - Bloomberg Business:
"Bank of New York Mellon Corp., the world’s biggest custody bank and among the 10 largest investment managers, said it’s started picking Saudi Arabian equities to invest in ahead of the market opening in June.
The bank’s wealth management arm plans to start buying shares as soon as the $554 billion stock exchange is opened to direct foreign investment on June 15, Chief Investment Officer Leo Grohowski told reporters in Dubai on Wednesday.
“We are already doing bottom-up analysis of Saudi equities and have got our sights on several individual companies,” he said. “Portfolio managers all around the world are looking forward to this.”"
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