BNY Mellon has set up a new unit to service sovereign wealth funds in the region, The Wall Street Journal reports. Sovereign Institutions Group will focus on the needs and growth plans of sovereign wealth funds, sovereign pension plans, central banks and sovereign owned entities.
Former BNY Mellon head of client management, Jai Arya, will be leading the division. Previously, Arya headed client management in Asia Pacific for the firm, adds Reuters.
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