BNY Mellon has appointed Fangfang Chen as Asia-Pacific chair and Asia-Pacific head of asset servicing and digital, with effect from January 4. Chen will be responsible for overseeing the execution of the company’s strategic growth agenda in Asia-Pacific while driving the success of the asset servicing and digital business in the region. She will also provide oversight of our regional structure, including regulatory and legal compliance.
Based in Hong Kong, Chen will report to Hani Kablawi, chairman of international, and to James Slater, head of asset servicing client coverage and front office solutions.
Chen brings a wealth of financial services and consulting experience to the company, including 12 years at State Street, where she held numerous leadership roles in the United States, mainland China and 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.
She will join BNY Mellon from Algorand Foundation, a financial technology start-up involved in the development of an innovative, enterprise-scale public blockchain technology that enables frictionless finance. As a founding member and the COO of Algorand, Chen oversaw strategy, ecosystem partnerships, business incubation, and global community development, an experience that BNY Mellon considers invaluable as it continues on its digital transformation journey.
Chen succeeds David Cruikshank, who announced his retirement from the company 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.
BNY Mellon has been servicing clients in Asia-Pacific for more than 100 years. It has approximately 15,000 employees in the region and maintains extensive operations in 17 locations.
“Asia-Pacific is an important growth driver for BNY Mellon,” comments Kablawi. ”We continue to deepen our presence in the region and are optimistic of our growth prospects.”
“Fangfang's diverse experience in financial services and fintech will be instrumental in driving our growth agenda in the region and delivering exceptional value for our clients through digitizing our operational model,” he adds.