Pamela Yuen leaves HSBC to join Northern Trust

Chicago-based Northern Trust has created a new position in response to demand from institutional clients in North Asia, and Pamela Yuen has arrived from HSBC to fill it. As North Asia sales director for corporate and institutional services, she reports to Rohan Singh, Asia-Pacific head of asset servicing sales.

Having started in Hong Kong on July 12, Yuen works alongside Kevin Hardy, Asia-Pacific head of Northern Trust, and Madhu Gayer, Asia-Pacific head of investment risk.

She will be responsible for business development in Hong Kong, China, Taiwan and Korea. Singapore-based Singh says one of Yuen's briefs will be to evaluate whether the time is right for Northern Trust to establish offices in Korea and Taiwan.

Yuen comes to Northern Trust with 15 years' experience in asset servicing under her belt, most recently as head of relationship management for Asia-Pacific at HSBC, where her official departure date was July 7.

As the senior executive responsible for expanding business in North Asia for Northern Trust, Yuen will also work closely with Michael Wu, who is head of the company's Beijing office. It is hoped Yuen will help attract new custody mandates in China such as the one for National Council for Social Security Fund (NCSSF), for which Northern Trust has been acting as custodian since 2006.