BNY Mellon eyes intermediary market
BNY Mellon has pushed into the intermediary market, hiring former ING Investment Management executive Navin Suri as its Asia-Pacific (APAC) head of intermediary distribution.
PeterPaul Pardi, BNY Mellon's head of global distribution, said that the company's success in institutional markets had not yet been replicated in the intermediary and wholesale space.
Suri will drive the company's APAC intermediary sales strategy, distribution channel network and regional relationships in a bid to expand the company's presence.
The position will support new partnerships with consumer banks, private banks and family offices, insurance and pension providers, IFAs and other financial intermediaries.
Suri has over two decades investment management experience, most recently as managing director and chief executive for ING Investment Management in India.
Suri has also worked for CitiBank as its APAC head of sales for the company's retail client arm, and APAC sales and distribution head for CitiBank's investments business.
Reporting to chief executive officer for BNY Mellon's APAC investment management business, Alan Harden, Suri will be based in Hong Kong.
Harden said Asia had the potential to widen the gap between its wealthy and those in the US and Europe over the next decade.
"To truly become one of the premier investment firms in Asia-Pacific, it is crucial that we excel in the key areas of distribution and client service, not just to the institutional market, but the wholesale market as well," he said.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The $205 billion super fund has appointed Simon Warner as chief investment officer (CIO) following a global search to replace outgoing Damian Graham.
Industry super fund Rest has appointed an interim head of private markets following the exit of Simon Esposito.
Two former Statewide Super executives have been acquitted of dishonesty charges following a trial in the District Court of South Australia.
Allianz Retire+ has announced major leadership changes with the appointment of a new CEO and distribution heads to help expand its presence across the institutional channel.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
