BNY Mellon has appointed Sam Xu from Standard Chartered as its new country executive for China.
Xu has 20 years of experience in banking and 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 replaces industry veteran Robert Kung, who will be retiring following five years with BNY Mellon.
“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.”
Xu will report to Gregory Roath, head of global client management, Asia Pacific, and be based in Shanghai.
“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,” added Roath.