BNY Mellon seeks new Asia head of asset servicing

Feb 13, 2017

Michael Chan moved on in August after nine years with the asset management and servicing firm and a search is still under way for his replacement.

BNY Mellon seeks new Asia head of asset servicing

BNY Mellon is still looking for a new head of asset servicing for the Asia-Pacific region following the departure of Michael Chan six months ago.

Francis Braeckevelt, Asia-Pacific chief operating officer for asset servicing, has been overseeing Chan's responsibilities on an interim basis and will continue to do so for the foreseeable future until a replacement is announced, a spokesperson said on Monday.

BNY Mellon did not provide greater detail on the timing of any announcement but said asset servicing remained a key focus for the bank in the Asia-Pacific region.

Chan (pictured) left in August to pursue another opportunity after nine years with the US-based asset management and servicing group, a spokesperson for the bank confirmed on Friday.

BNY Mellon, the world's biggest custodian with $29.9 trillion in assets globally as of end-2016, will make an announcement about a replacement in due course, he said. The firm does not break out its assets under custody by region.

AsianInvestor was unable to ascertain Chan's next destination.

Chan (pictured) had been Asia-Pacific head of asset servicing since June 2013, before which he was Asia head of sales and business development for asset servicing. He joined BNY Mellon in 2007 as chief operating officer for Asia asset servicing.

Chan previously spent 13 years at State Street in senior roles from operations to business development in North America and Asia.