BNY Mellon targets Singapore buildout
The firm is expanding its separately managed accounts business to Singapore and is targeting both private banks and asset managers. It names Chris Faddy to lead the project.
BNY Mellon is expanding its separately managed accounts (SMA) platform to Singapore, some seven months after receiving a licence to roll out similar capabilities in Hong Kong.
The Monetary Authority of Singapore awarded a capital markets licence to BNY Mellon last month, allowing the $1.5 trillion US investment management and services firm to set up the SMA business in the city state. (The licence also permits it to offer a full range of services out of the city, including researc…
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