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BMG Expands Gold Network In Hong Kong And New York
Vanessa Doctor
14 July 2011
Bullion Custodial Services, the Canada-based precious metals investment firm under the Bullion Management Group, has expanded its global scope with the opening of two storage facilities in Hong Kong and New York city. These are its first storage facilities outside of Toronto and are aimed at reaching out to international high net worth clients. Operating under the BMG BullionBars program, the facilities enable investors to purchase bars through BCS and BMG Authorized Bullion Dealers and store certified, investment-grade bars of gold, silver, and platinum. "In a period where global financial contagion and central bank defaults are being discussed openly in mainstream financial media, the option for storage of BMG BullionBars in local or multiple vaults holds immediate appeal for high net worth investors," said Nick Barisheff, president and chief executive, in a statement. According to the latest wealth report by Merrill Lynch and Capgemini, the US is the single largest HNW segment in the world, accounting for 28.6 per cent of the global HNWI population in 2010. Asia-Pacific posted the strongest regional rate of growth, expanding 9.7 per cent to 3.3 million.