BNY Mellon IM wins Singapore licence, eyes buildout

BNY Mellon is busy building an investment and distribution team in Singapore through a newly formed subsidiary after receiving the appropriate licence earlier this week. The US firm’s only other portfolio management team in Asia is in Tokyo, a 90-strong unit that began trading equities at the start of this year. But it is the firm’s eventual goal to build out local investment capabilities across the region, says Wendy Lim, Asia-Pacific head of business development and marketing fo…