Jai Arya to head global business to support expanding client needs
NEW YORK and SINGAPORE, January 18, 2011 — BNY Mellon, the global leader in asset management and securities servicing, has established a new Sovereign Institutions Group focused on supporting the future needs and growth plans of sovereign wealth funds, sovereign pension plans, central banks/monetary authorities and sovereign owned entities. The new group will be led by Jai Arya, formerly Head of Client Management in Asia-Pacific who will continue to be based in Singapore.
"With total sovereign wealth fund assets forecast to more than triple by 2020 to US$20 trillion, sovereign institutions are critical to the continuing health of the global financial system," said Jim Palermo, Vice Chairman of BNY Mellon and Chief Executive Officer of Global Client Management. "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."
Arya added: "Sovereign institutional confidence in world markets is on the rise. Many sovereigns are resuming their portfolio diversification plans and their appetite for alternative investments continues to increase. As confidence returns and the need for support increases, it is critical that we have the right solutions and the depth of resource to deliver the capability of the whole company to this important client group."
Arya has over 20 years client management experience and has been with BNY Mellon since 1986 in a variety of roles in India, Taiwan, Korea and Singapore working with financial institutions, including sovereign entities.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com.