BNY Mellon, a global leader in investment management and investment services, has appointed Sam Xu as country executive for China effective September 18, 2018. Xu will report to Gregory Roath, Head of Global Client Management, Asia Pacific, and be based in Shanghai.
“China is an important and promising market for BNY Mellon,” said BNY Mellon’s Chairman of Asia Pacific, David Cruikshank. “With an established presence since 1994, we continue to see tremendous opportunities to further expand our suite of solutions to help our clients participate competitively in an ever-changing global economy.”
With over 20 years of experience in banking, Xu joins from Standard Chartered where he was most recently Head of Transaction Banking for China covering cash and liquidity management, trade finance, custody and other securities services. Prior to Standard Chartered, Xu worked for Deutsche Bank and JPMorgan in China as well as New York. He holds a Bachelor of Arts from Fudan University, China and a Master of Business Administration from the University of Toronto.
BNY Mellon’s Roath added: “I am pleased to have Sam joining BNY Mellon to lead the strategic direction and expansion of the company's local capabilities and presence across all businesses in China. With his diverse background and extensive experience in the industry, his leadership will be integral to further driving BNY Mellon’s business in China as we continue to deliver excellence for our clients across the investments lifecycle.”
Xu succeeds Robert Kung, who will be retiring following five years with BNY Mellon.
BNY Mellon has been servicing clients in Asia Pacific for over 100 years and first opened its Shanghai representative office in 1994. With an expansion of its operations in Shanghai and Beijing since 2000, BNY Mellon was the first non-domestic asset manager invited to advise on a QDII custody mandate in 2007, and obtained the Renminbi business license to conduct Renminbi denominated financial transactions locally and Derivative license for Shanghai Branch in 2011 and 2014 respectively. Last year, BNY Mellon Investment Management was granted a Wholly Foreign Owned Enterprise license in the Shanghai Free Trade to strengthen the bank’s investment management business in the Mainland.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of June 30, 2018, BNY Mellon had $33.6 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
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