American asset manager BNY Mellon has set an office in the Taiwan capital of Taipei and named Rebecca Chu as the head of Taiwan.

The office launch follows the receipt of a Securities Investment Consulting Enterprise (SICE) business licence.

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The new presence is said to deepen the firm’s relationships with clients in Taiwan as well as improve its brand awareness.

BNY Mellon Investment Management head of Asia Pacific ex Japan Doni Shamsuddin said: “Our focus continues to be on growing our institutional business in Taiwan while working closely with our master agent Taiwan Cooperative SITE to deliver investment excellence and industry-leading client experience.”

Last July, the firm selected Taiwan Cooperative SITE as its master agent in Taiwan.

Taiwan head

Operating out of Taipei, Chu will be in charge of the firm’s growth and focus on local clients.

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Chu has been working at BNY Mellon in 2016. She previously served the vice president of Institutional Distribution.

She formerly also had stints at CTBC Investments, Cathay Life, and Nanshan Life.

Additionally, BNY Mellon hired Jessie Chen as a business development manager.

Chen most recently worked in intermediary sales at BlackRock.

BNY Mellon Asia footprint

Taipei expands BNY Mellon’s Asia-Pacific presence, joining offices in Hong Kong, Singapore, Shanghai, Sydney, Tokyo as well as Seoul.

At the end of June 2020, the firm managed over $2trn in assets.

Head of Germany, Switzerland, Austria and CEE

In addition, BNY Mellon hired Credit Suisse veteran Björn Storim as the new head of Germany, Switzerland, Austria and Central & Eastern Europe (the CEE).

Based in Frankfurt, Storim will be tasked with spearheading the delivery of the firm’s strategy in these markets.

Storim worked for 16 years at Credit Suisse and previously also served at JPMorgan.