The new Sovereign Institutions group will be led by Jai Arya, formerly head of Client Management in Asia-Pacific, and he will continue to be based in Singapore.
Arya has more than 20 years of client management experience and has been with BNY Mellon since 1986 in various roles in India, Taiwan, Korea and Singapore working with financial institutions, including sovereign entities.
BNY Mellon vice chairman and CEO of Global Client Management Jim Palermo said with total sovereign wealth fund assets forecast to more than triple by 2020 to $20 trillion, sovereign institutions are critical to the continuing health of the global financial system.
"As sovereigns steadily diversify their portfolios through strategic overseas investments, BNY Mellon is ideally placed to provide the asset management and securities servicing solutions they need to help them seize new opportunities and manage risk in the global markets," Palermo said.
