Bermuda Commercial Bank has launched an asset management division to provide discretionary investment management services to institutional and private clients.

BCB Asset Management, the new business, was granted its license on 20 April by the Bermuda Monetary Authority.

Lola Myshketa, the bank’s senior wealth advisor, will head up the new business. She has experience in both the North American and European wealth industries.

The firm will establish sub-advisory relationships with a number of global investment managers and create bespoke portfolios for clients, Myshketa said, with a focus on capital preservation and risk management.

BCB Asset Management is now Bermuda Commercial Bank's trading member and listing sponsor on the BSX.