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BNY Mellon confirms "difficult" withdrawal from SMA

Leigh Powell
The firm admitted the market for its separately managed accounts business was slower than it expected, even as one Malaysian private bank announced the launch of the platform.
BNY Mellon confirms "difficult" withdrawal from SMA

BNY Mellon Investment Management released a short statement late last night confirming the withdrawal of its separately managed accounts (SMA) business in Asia, even as a Malaysian private bank became the first to announce it was rolling it out.

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