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Singapore Regulator Awards Capital Markets Licence To BNY Mellon

Vanessa Doctor

13 November 2013

The , CEO, and will retain her regional responsibilities.

"Singapore's accelerating wealth, and that of neighbouring countries, makes it a highly compelling draw for many investment managers. With assets under management climbing by 22 per cent in the last year to a record S$1.63 trillion ($1.3 trillion), Singapore cements its position as Asia's primary wealth management hub and one of the world's leading investment destinations," said Lim.

BNY Mellon has been operating in Singapore for over 40 years and offers a range of financial services. Its wholly-owned subsidiaries, Eagle Investment Systems and Pershing Group, both have legal entities in Singapore.

Separately, BNY Mellon has been boosting its global wealth management operations with a range of hires. In August, the financial services firm expanded its Asia-Pacific team with the appointment of a new head: Richard Collis assumed the role of managing director for investment management.