Bank of America appoints Winnie Chen as head of Asia Pacific global payments solutions
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Bank of America (BofA) appointed Winnie Chen as head of Asia Pacific global payments solutions (GPS), starting in September and based in Singapore. Chen will also become a member of the Asia Pacific executive committee.
As head of Asia Pacific GPS, Chen will drive the global payments strategy and execution for the region, deepen client relationships, and ensure close collaboration with partners in global corporate and investment banking.
Chen rejoins BofA, where she previously served as head of sales for financial institutions and the public sector for Hong Kong and Macau. Most recently she was head of treasury services for Asia Pacific and Singapore chief executive at Bank of New York Mellon.
Chen brings more than 20 years of financial services experience in various roles in the United States, Greater China and Singapore. Chen offers an international perspective and deep knowledge in credit administration, sales, relationship management and transaction banking.
She will oversee BofA’s GPS business in 12 Asia Pacific markets and an additional seven markets via strategic alliances
Asia Pacific is crucial to BofA’s $11 billion+ global GPS business because it is of critical importance to clients. BofA has relationships with 62% of Global Fortune 500.
Chen’s appointment is timely for the region and the team has been developing new solutions that take advantage of digital innovations, such as CashPro Forecasting, which make it easier for clients to navigate and adopt new regulatory requirements. An example of a cross-border payments solution is how it simplifies client connections to the China Customs platform.
BofA believes this appointment comes at an important time for the industry. The role of the treasurer has evolved, making it important for providers to consult with clients on how to manage interest rate volatility and how to protect their FX exposure when making large volumes of routine cross-border payments. A payment strategy goes beyond just adopting new payment innovations.
Re-disseminated by The Asian Banker
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by : on 2024-08-01 16:02:00
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