Based in Dubai, Farrell will be responsible for developing relationships across BNY Mellon’s offices in Abu Dhabi, Beirut, Cairo, Dubai and Istanbul. He will report to Aidan Canny, managing director of regional markets and investment managers for corporate trust in Europe, the Middle East and Africa (EMEA).
Farrell has worked in BNY Mellon’s Corporate Trust business for ten years, most recently leading the new business implementation team in Dublin, focusing on structured finance and secularisation.
In his new role, Farrell will replace Brian Huey, who has moved to BNY Mellon’s global management team, based in London.
Tom Ahern, head of corporate trust for EMEA at BNY Mellon, said: “Paul Farrell’s deep understanding of the regional fiduciary infrastructure will strengthen our presence in the Middle East, where BNY Mellon has been serving clients for nearly a century.”
He added: “It’s a dynamic market and we are seeing a number of exciting opportunities in debt-funded public projects and Islamic finance instruments. While at the same time, the extended period of relatively lower oil prices is triggering new long-term funding opportunities from alternative sources.”