US INVESTMENT bank BNY Mellon will expand its Irish staff numbers to 500 following its acquisition of a division of fellow US institution PNC.

Under the $2.31 billion deal, BNY will take over the business of PNC Global Investment Servicing (Europe), which has operated in the International Financial Services Centre since 1993. The company has offices in Dublin, Wexford and Navan and is a significant business within the portfolio.