Bank of New York appoints Louis Kung China country manager

Kung will also act as managing director and general manager of the Shanghai branch. During the same reshuffle, Shyan Wen Chu has been appointed MD and senior sales officer for trade finance sales in Asia, also based in Shanghai.

Kung was previously GM of the Taipei branch from 1997 to 2003 and was also North Asia district manager of the Asia Pacific division, as well as GM of the Singapore branch from 1991 to 1992. He has a B.Eng from Tamkang university in Taiwan and an MBA in finance from St. John's university in New York.

Chu joined BNY in 1989 and has served as country manager for China, was in charge of correspondent banking in Taipei and was GM of the Shanghai branch from 2000 to 2003. He has a B.Econ from National Taiwan University and an MBA from East Texas State University.

The Shanghai branch has become a major trade processing facility of the bank's, and the hub for BNY's regional trade finance operations, the bank said in a statement.

The Shanghai office was up-graded to a branch in 2000 and has since also provided depositary receipts, cash management, trade finance and foreign exchange.