New office underscores BNY Mellon's long-term investment and commitment to China
Move in response to growing demand from Chinese institutions for data management and technology services
BEIJING and BOSTON, 8 March 2012 — Eagle Investment Systems LLC ("Eagle"), a leading provider of financial services technology and subsidiary of BNY Mellon, today announced the opening of its first representative office in China. John Legrand, managing director for Eagle in Asia-Pacific, has been named as the Chief Representative of Eagle's new office in Beijing. Eagle also has Asia-Pacific offices in Singapore and India.
"China is a key market for Eagle," said Eagle's Legrand. "Over the past four years, we have seen an increasing number of Chinese financial institutions place considerable attention on data management and increased efficiencies as central components of their risk management strategy. We therefore felt it was important to open an office in China to more closely align with Chinese institutions and provide them with the data management solutions they require."
"Eagle has a world-class reputation for innovation," said Steve Lackey, Chairman of Asia-Pacific at Eagle's parent company, BNY Mellon. "Eagle offers technology and services which address the required levels of transparency, scalability and security financial institutions around the world need more than ever today. We are delighted to be able to offer Chinese institutions access to Eagle's local talent and expertise as well as products and services."
Eagle has appointed two people to join the Beijing representative office. Tian Cheng has joined Eagle as Head of Business Development for China. Cheng has more than 15 years experience in technology and financial services and has held senior positions with Camelot, IBM, and Symantec. Yong Wang has been named as a product specialist for Eagle in China. Wang is a senior risk and performance analyst with extensive knowledge of the mutual funds business and a great deal of international experience in both Asset Management and Commercial Banking in the UK and China. He joins Eagle from JP Morgan Asset Management.
Eagle expects to expand its team in Beijing over the next three years as the business grows in China.
BNY Mellon has strong and historical relationships with banks in China having been active in the region for more than 90 years and opened its first office in mainland China in 1994. BNY Mellon's business was originally primarily focused around its treasury, trade and payments services. This has evolved today to include a wide variety of products and services including asset management, custody, fund administration, depositary receipts and foreign exchange.
Eagle Investment Systems is committed to helping financial institutions worldwide grow assets efficiently with its innovative portfolio management suite of data management, investment accounting and performance measurement solutions that are delivered over its secure private cloud, Eagle ACCESS(SM). Since 1989, Eagle has deployed trusted solutions and services that create operational efficiencies and help reduce complexity and risk. Eagle Investment Systems LLC is a subsidiary of BNY Mellon. Additional information is available at www.eagleinvsys.com.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.8 trillion in assets under custody and administration and $1.26 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.