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BNY Mellon Wins Sberbank Mandate

Bank of New York Mellon has secured a new mandate from Russian lender, Sberbank.

Bank of New York Mellon has secured a new mandate from Russian lender, Sberbank, Reuters reports. Sberbank has appointed New York-based BNY Mellon as the depository bank for its depository receipts program.

The Moscow-based bank is seeking to issue depository receipts for existing shares to draw foreign investors. Sberbank was looking at Citi, DeutscheBank and JPMorgan as possible contenders for the mandate.

Click here for the story from Reuters.

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