BNY Mellon hires Solway as regional head of equity finance in Asia-Pacific
26 November 2012
By Asia Asset Management
BNY Mellon has appointed Paul Solway as managing director and regional head of equity finance for Asia-Pacific. Based in Hong Kong, he will report to Robert Chiuch, managing director, global head of equity finance in New York.
In this new regional role, Mr. Solway will be instrumental in developing a strong Asia-Pacific equity financing business. His primary focus will be to review and expand BNY Mellon’s local distribution channels, enhance and develop the firm’s equity financing product lines, and additionally, partner with colleagues in the broader global collateral services team to deliver collateral solutions to Asian institutional investors. Mr. Solway will join BNY Mellon’s Asia-Pacific operating committee.
“From a securities financing perspective, Asia stands out globally as a region where asset owner demand, and in turn revenues, are rising,” observes James Slater, head of the global collateral services securities finance group. “As such, to ensure that we are able to meet the growing needs of Asian institutions, we are steadily investing in our local infrastructure and hiring highly qualified individuals to lead our efforts.
“Over the next 12 months we will be deeply focused on current and prospective clients in the region by exploring ways to expand existing relationships and build new ones, and strategically aligning our people, products and resources with those of the client to achieve the best possible results,” adds Mr. Chiuch.
Mr. Solway has over 20 years of experience in the financial services industry and has worked at several leading global financial institutions before joining BNY Mellon including Macquarie Bank, HSBC Securities and Nomura International.
BNY Mellon currently services US$2 trillion in global collateral (including tri-party repo collateral worldwide) and approximately $100 billion in assets through its Liquidity DIRECT investment portal, and operates one of the industry's largest securities lending programs, with $3 trillion in lendable assets.
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