BNY Mellon Receives Licence Approval from SFC for Hong Kong Subsidiary

BNY Mellon, the global leader in investment management and investment services, has received licence approval from the Securities and Futures Commission (SFC) for its new dedicated Hong Kong-based subsidiary* to establish a separately managed accounts business. The new subsidiary will introduce a separately managed accounts platform, which will be the first of its kind in Asia, and is expected to be launched later this year. It is being specifically designed with Asian investors in mind and will be offered to a select group of private banks and other leading wealth management providers to enable them to better serve their high-net-worth individual clients. "Separately managed accounts are a very effective way for professional wealth managers to deliver fully transparent, customized portfolios to their clients," notes AJ Harper, President and Chief Executive Officer of the new Hong Kong managed accounts subsidiary for BNY Mellon. "They provide individual investors access to investment portfolios which have previously been beyond their reach, and traditionally only available to institutional investors at high minimum thresh-holds." Harper continues: "What will make our platform so unique to Asia-Pacific is that it will be the first open architecture offering that provides multi-manager and multi-currency portfolios at See full press release