The firm's investment management arm has received a Securities Investment Consulting Enterprise (SICE) business license and opened an office in Taipei.
The SICE license will allow BNY Mellon Investment Management to strengthen its relationships with clients in Taiwan and increase brand awareness of the business by presenting at conferences and organizing educational seminars for the local market, the firm announced on Tuesday.
BNY Mellon said the license and new office supports its growing client base in Taiwan, which requires greater client connectivity and on-the-ground presence.
«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,» Doni Shamsuddin, head of Asia Pacific ex-Japan at BNY Mellon Investment Management, said.
Country Head Appointed
Based in Taipei, Rebecca Chu was appointed head of Taiwan, a role in which she will lead a team to serve local clients and drive business growth in the market.
Chu, who joined BNY Mellon in 2016, was previously based in Hong Kong, where she was formerly vice president, Institutional Distribution. She was previously a fund manager with CTBC Investments, an assistant manager in the foreign fixed income investment team of Cathay Life, and held various roles at Nanshan Life.
Assisting Chu will be Jessie Chen, business development manager, who joins the firm from BlackRock, where she spent four years as associate, Intermediary Sales.
Asia Reach
BNY Mellon Investment Management is one of the world’s largest investment managers, with more than $2 trillion in assets under management as of June 30, 2020.
The firm has six other offices in Asia Pacific including Hong Kong, Singapore, Shanghai, Sydney, Tokyo and Seoul.
