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Bank Of New York Mellon Corp Receives License Approval For New Separately Managed Accounts Business In Hong Kong

Tuesday, 2 Jul 2013 03:53am EDT 

Bank Of New York Mellon Corp announced that it has received license approval from the Securities and Futures Commission (SFC) for its new 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 wealth management providers to enable them to better serve their high-net-worth individual clients. 

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