BNY Mellon close to QFII licence
The US asset manager has plans to hire at least 50 people across Asia next year, with the biggest headcount growth likely in China.
BNY Mellon Asset Management is close to receiving its qualified foreign institutional investor (QFII) licence, says David Jiang, chief executive of the Asia-Pacific asset management business in Hong Kong.
He expects to receive the quota by the end of the year, and the US firm will then launch a QFII product, most likely an offshore equity fund, sub-advised through its planned joint venture with Western Securities, for which the company hopes to receive approval from regulators in ear…
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