ABN AMRO Bank and Mellon Financial Corp. have announced plans to formalize the global custody services the two firms offer with a new joint venture the two companies will name ABN AMRO Mellon Global Securities. It will be headquartered in the Netherlands and provide global custody and related services to 111 clients with $250 billion in assets in 26 markets, excluding the U.S.

Nadine Chakar, who has acted as managing director for the two companies' alliance since its inception in 1999, has been named chief executive officer of the new firm.

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