State Street Corporation, a U.S.-based financial services holding company, has begun its transfer agency operations in Taiwan, with Sunny Yang as the new head, who will be based in Taipei.
The services under transfer agency include investor registration, trade processing, and allocation of units to investors, cash management and reconciliation, regulatory support such as FATCA and local regulations and KYC services.
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The company provides its transfer agency services to securities investment trust enterprises, and fund management companies, on a business process outsourcing basis that are registered in Taiwan.
In her new role with State Street, Ms. Yang will report directly to the head of transfer agency for the Asia Pacific region, Euan McLeod, and look after the day-to-day operations, including the resource management of teams involved with client servicing and monitoring operational risk and regulatory framework.
Ms. Yang is a veteran in the field of transfer agency, with 15 years of experience in TA and fund administration in Taiwan.
Before joining State Street, Ms. Yang was formerly with Allianz Global Investors Taiwan Limited, ING Asset Management (Taiwan) Limited, and JP Morgan Asset Management (Taiwan) Limited in various senior TA positions.
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By GlobalDataState Street Corporation, under its plans for business expansion into Asia Pacific, has also appointed many new personnel for its TA business.
Mr. McLeod who has above 20 years of experience in the TA field working with companies like HSBC, JP Morgan, Citibank and the Royal Bank of Scotland, is recruited as the head of transfer agency for the Asia Pacific region, and will be based in Hong Kong.
He will be responsible for all transfer agency products and services for both the domestic and cross-border ranges.
Gayathri Chandramouli, with 14 years of experience in TA that include holding senior positions with DSQ Software Ltd, IFDS in the UK and Bank of New York Mellon; will be the new head of product and strategy for the TA business in Asia, and will be based in Singapore.
She will be responsible for the TA market plans management and development for various countries in the region.
The other new recruitment for the business expansion in Hong Kong is Aileen Yan, as the head of TA operations, responsible for the daily management of the TA operational teams in the region.
With above 25 years of experience in unit trust and mutual fund operations working with companies like Bermuda Trust (FE) Ltd, CEF Capital Ltd and Invesco Hong Kong Ltd.
Cathy Yeung is the new TA AML KYC officer, Zoey Cheang as transfer agency technology and projects lead, and Sean Liew as the new business implementation lead.
Head of State Street Global Services and IMS for Asia, Andrew Erickson said: "We are extremely pleased to welcome our new colleagues. The Asia-Pacific region is a key growth area for many of our clients and each new appointment adds significant experience to our operations, ensuring we are well positioned to support the administration of domestic and cross-border products and provide distribution support to existing and prospective clients."
