BNY Mellon Loses Lucrative Argentine Market


Just kidding: There was nothing lucrative at all about the Argentine market for BNY, only trouble. But Cristina Kircher & co. have been kind enough to deal with that problem for their estranged trustee bank.

On Tuesday, Argentina's central bank revoked the New York company's authorization to operate an office in the country….

"With respect to Argentina, it's certainly generating a lot of headlines, but we don't expect a meaningful impact" on BNY Mellon's profitability, said Jason Goldberg, a senior research analyst for Barclays PLC.

BNY Mellon Draws Fire on Argentina [WSJ]