BNY Mellon has China in its sights

Bank of New York (BNY) Mellon (BK.NYSE) is looking to increase the amount of revenue from Asian markets, South China Morning Post reported. Currently 6.5% of the bank’s revenue comes from Asia, up from 4.5% five years ago. BNY Mellon president Karen Peetz said U.S. banks, now with stronger capital bases, would “inevitably” come back to Asia to invest. The bank is looking at selling investment products to American expats in Hong Kong as non-US banks are increasingly hesitant to offer such products due to regulatory requirements.