BNY Mellon Names New Asia Chair, Head Of Asset Servicing, Digital

Tom Burroughes

4 November 2020

has appointed a former senior figure at rival US financial group State Street, Fangfang Chen, as Asia-Pacific chair and Asia-Pacific head of asset servicing and digital, with effect from 4 January next year.

Chen will be responsible for overseeing the execution of the company’s strategic growth agenda in the region. She will also provide oversight of its regional structure, including regulatory and legal compliance, BNY Mellon said in a statement yesterday.

Based in Hong Kong, Chen will report to Hani Kablawi, chairman of international, BNY Mellon, and to James Slater, head of asset servicing client coverage and front office solutions.

“Asia-Pacific is an important growth driver for BNY Mellon. We continue to deepen our presence in the region and are optimistic of our growth prospects,” Hani Kablawi, chairman of the firm’s international arm, said.

Chen worked for 12 years at State Street, where she had leadership roles in the US, China and in Hong Kong. Her last role at State Street was chief operating officer for Asia-Pacific, where she oversaw operations across multiple businesses in the region.

Before joining BNY Mellon Chen was at Algorand Foundation, a financial technology start-up involved in the development of an enterprise-scale public blockchain technology. As the COO and a founding member of Algorand, she oversaw strategy, ecosystem partnerships, business incubation, and global community development.

Chen will take over from David Cruikshank, who announced that he was retiring as Asia-Pacific chairman earlier this year. Rohan Singh, who has served as Asia-Pacific head of asset servicing since 2017, has taken on a new global role as head of asset owners at BNY Mellon.