(6 August 2024 – Singapore) Bank of America (BofA) has lured the former BNY Mellon Singapore CEO back to the group as the new Head of Asia Pacific (APAC) Global Payment Solutions (GPS).
Winnie Chen will be based in Singapore and also become a member of the APAC executive committee (ExCo) in her return to BofA where she was head of sales for banks and the public sector for Hong Kong and Macau from 2011 to 2013.
Chen will drive the global payments strategy and execution for the region, deepen client relationships and ensure close partnership with BofA’s global corporate and investment banking (CIB) unit.
Chen will oversee Bank of America’s GPS business in 12 APAC markets alongside seven markets via strategic alliances. According to the bank, the region is crucial to its GPS business globally which is valued at over US$11 billion. The group’s corporate clients approved a record US$500 billion in payments through BofA’s Cash Pro app through mid-year, up nearly 40 percent year-on-year. Payments on the app are projected to exceed US$1 trillion in 2024, up from US$802 billion in 2023.
“Winnie brings an international perspective and deep knowledge of credit administration, sales, relationship management and transaction banking” commented BofA Head of GPS, Mark Monaco and BofA President of APAC, Jin Su.