This content is from: Corner Office

BNY Focuses On Asian Wealth Funds

BNY Mellon is targeting Asian sovereign wealth funds.

BNY Mellon is targeting Asian sovereign wealth funds (SWF), Financial Times reports. The bank is creating a single contact point between its different business units, said Jai Arya, head of BNY Mellon’s new four person sovereign institutions group.

Earlier in 2011, the firm set up a Singapore-based unit focused on serving sovereign wealth funds, pension plans, central banks and supranationals. BNY, which tracks the activities of about 149 sovereigns, estimates the SWF market to total nearly $20,000 billion, with assets growing at 10-15% a year. Nearly 40% of those assets are in Asia, with 35% in the Middle East and 15% in Europe, adds Arya.

Click here for the story from Financial Times.

Related Content