BNY Mellon makes play for intermediary markets
BNY Mellon has set its sights on the intermediary markets, 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.
He 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 the 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.
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