BoNY makes big investor services hire

Signalling the ongoing expansion of its Asia-Pacific investor servicing business, the Bank of New York has made a high profile hire in its Singapore offices. Chong Jin Leow, formally of State Street, will join the bank as in the newly created role of managing director and head of investor services in Asia.

From the bankÆs Singapore offices, Leow will assume responsibility for managing its newly created investor services business for the region, which will include a focus on business lines such as custody, fund accounting and securities lending. His new role will also including liasing with head office on regional investor services strategy plans and comes after the Bank of New York recently increased regional headcount in this area.

Leow reports directly to Tim Keaney, the London-based executive vice president and global head of investment services. Keeney himself recently stepped into this role. BoNY only recently created the global investor services group to cater to growing demand for the aforementioned products.

Regionally, the firm also appointed a slew of new employees in Hong Kong, Singapore, Tokyo and Seoul to beef up its securities services platform in business lines such as product relationship management, sales, commission recapture and transition management.

Leow shifts to The Bank of New York from State Street in Singapore, where he was responsible for the combined State Street and Deutsche Bank investor services business. This responsibility extended across all Asian countries excluding Japan and Australia. He first joined State Street in 2003 and left the firm in May.

According to State Street LeowÆs former responsibilities will be handled by KK Tse, executive vice president in charge of all of State Street investment servicing business in the region, while a replacement is found. Tse is a 13-year veteran of State Street and a member of its Asia-Pacific executive board.

Prior to joining State Street, Leow was Deustche BankÆs head of customer management for Asia-Pacific global securities services. He joined this firm in 1999 from Bankers Trust in Singapore, where he held senior management positions in sales and product management within global securities services. He started his career with Citigroup and during his tenure held various relationship management positions in Singapore, Hong Kong, Brisbane, Melbourne and Sydney.