September 1, 2020
Secures Securities and Investment Consulting Enterprise License
Rebecca Chu appointed Head of Taiwan
HONG KONG, September 1, 2020 – BNY Mellon Investment Management, one of the world’s largest investment managers with more than US$2 trillion in assets under management, today announced it has been granted a Securities Investment Consulting Enterprise (“SICE”) business license and opened an office in Taipei. It has also appointed Rebecca Chu as Head of Taiwan.
The SICE license will allow BNY Mellon Investment Management to strengthen relationships with clients in Taiwan and increase brand awareness of the business by presenting at conferences and organising educational seminars for the local market. In addition to the new Taipei office, BNY Mellon Investment Management has six other offices in Asia Pacific including Hong Kong, Singapore, Shanghai, Sydney, Tokyo and Seoul.
Matt Oomen, Head of Global Distribution at BNY Mellon Investment Management, commented: “As an investor first business, we recognised our growing client base in Taiwan required greater client connectivity and on the ground presence. We are delighted to be granted this license in Taipei as we offer local clients the best of both worlds: specialist expertise from eight world-class investment firms, backed by the strength, stability, and global presence of BNY Mellon, one of the world’s most trusted investment partners.”
In July 2019, BNY Mellon Investment Management appointed Taiwan Cooperative Securities Investment Trust Co., Ltd. (Taiwan Cooperative SITE) as its master agent in Taiwan.
Doni Shamsuddin, Head of Asia Pacific ex Japan at BNY Mellon Investment Management, added: “Taiwan is one of our strategic markets in Asia Pacific and the SICE approval is an important part of our expansion plan in Greater China. Our focus continues to be on growing our institutional business in Taiwan while working closely with our master agent Taiwan Cooperative SITE to deliver investment excellence and industry-leading client experience.”
To grow the firm’s footprint in Taiwan, BNY Mellon Investment Management has appointed Rebecca Chu as Head of Taiwan and Jessie Chen, Business Development Manager. Chu, based in Taipei, will be leading a team to serve local clients and drive business growth in the market. Chu, formerly Vice President, Institutional Distribution, joined BNY Mellon Investment Management in 2016. Chen joins from BlackRock where she spent four years as Associate, Intermediary Sales. “With her extensive experience in the asset management industry, solid understanding of the firm and sound local knowledge, we are confident that Rebecca and her team will be successful in growing our business in Taiwan,” said Mr. Shamsuddin.
BNY Mellon Investment Management established its presence in Asia Pacific in 1996. BNY Mellon, the parent company, has had a presence in Taiwan since 1973; first as a commercial bank, and then establishing an offshore banking unit in 1995, to service its major US retail customers.