Jun 24, 2013
Hong Kong, June 20th 2013 - BNY Mellon, the global leader in investment management and investment services, has named Robert (Bob) Kung as country executive for BNY Mellon in China. Kung will also serve as general manager of the firm's Shanghai branch, subject to regulatory approval. Kung succeeds Sunny Sun who will be returning to BNY Mellon's headquarters in New York to pursue a new role working with Asian clients in the United States.
In his role as country executive, Kung will be the chief strategist, leader and senior representative for the company with clients and regulators in China. Kung will report to Steve Lackey, Asia-Pacific chairman of BNY Mellon and Eleni Wang, Asia-Pacific head of global client management. Kung will join BNY Mellon's Asia-Pacific operating committee.
Kung has over 30 years of experience in the banking industry and has worked in Asia-Pacific since 1991. Most recently he was managing director, head of private banking for the China Region at DBS. Prior to this he was managing director and head of the China region for Credit Suisse Clariden Leu Asset Management, based in Hong Kong. Before joining Credit Suisse in 2007, he was managing director with Deutsche Bank where he held various positions over a 15-year period focused on investment services / transaction banking, corporate finance, private banking, and financial institutions in China, Hong Kong and Taiwan.
"Over many years we have developed a successful franchise in China servicing the global investment needs of our institutional clients," said BNY Mellon's Lackey. "The liberalization of China's capital markets is now at the forefront of economic reform, and the new leadership appears committed to transforming China into a leading force in the financial markets. As a global investments company, BNY Mellon has an opportunity to support the growth of China's financial markets through our leadership in investment management and investment services."
BNY Mellon has strong and historical relationships with banks in China having been active in the region for more than 90 years. The company 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 investment services, including custody, fund administration, depositary receipts and foreign exchange. The company provides investment management services through a joint venture partnership with Western Securities, BNY Mellon Western Fund Management, based in Shanghai.
Re-disseminated by The Asian Banker