The Bank of New York Mellon has received a license to operate as a bank in Mexico through a new affiliate entity, The Bank of New York Mellon, S.A., Institucion de Banca Multiple, according to a Sentido Comun report. 

The bank said that it will initially offer fiduciary services and custody services to companies that issue debt on Mexican capital markets.  The Bank of New York Mellon has operated a representative office in Mexico since 1995.