BoNY eyes Asian hedge fund processing

Executives at the Bank of New York are fond of mentioning that it has had an Asian presence for nearly 50 years. But while BoNY is a leading player in servicing American depository receipt issuers, it has had a lower profile in terms of securities services in the region. Bank execs say, however, that they have an ambitious schedule for growing BoNY's Asia business, with one focus this year on providing securities services and processing for Asia-strategy hedge funds. "Our main f…