Fund industry players see Asia's regulatory environment going through a good deal more change than global rules over the next five years, a survey shows. And they have tipped one passporting scheme for success.
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The Asean and ARFP schemes will be complimentary, but the commercial viability of passporting will revolve around China, an AsianInvestor roundtable hears.
After leaving BNY Mellon last year, the fund services veteran has resurfaced at RBC Investor Services, with Brent Reuter set to move to the US.
The recent departures of Andrew Gordon from BNY Mellon and Stewart Bent from Credit Suisse underline an industry trend of cost-cutting and consolidation.
A trend of asset outflows is reversing in Asia, but hedge funds are expected to find capital-raising tough this year.
The bank has responded to a global trend of increased investor demand for transparency and is expecting good pick-up in Asia.
Company veteran Michael Schroeder has relocated from New York to take up the post.
BNY Mellon adds David Brown to its broker-dealer sales team for collateral management and securities clearance.