BNY Mellon has appointed Daniel Smith to the position of chief administrative officer for the Asia-Pacific region. He will be replacing Lee Stephens who has relocated to the US to a senior business development role in BNY Mellon's Washington.

Mr Smith will be based in Hong Kong and will help drive the development and build-out of the region’s infrastructure to support the company’s clients and its growth initiatives across Asia-Pacific. He will report to Chris Sturdy, chairman of Asia-Pacific.

Mr Smith joined BNY Mellon in 1987 and has held a number of senior management positions in the US including most recently chief administrative officer of BNY Mellon Asset Servicing. He is a member of BNY Mellon’s operating committee.

Mr Sturdy said: “We are expanding ambitiously but methodically across Asia in both of our core businesses, asset management and securities servicing. Over the longer term, we expect Asia to be a much larger percentage of our bottom line as the region is a key engine of growth for our company.

“Dan has an excellent reputation for diligence and a proven ability to coordinate across business lines, always with a keen focus on employees and clients. As we accelerate our business growth in Asia, he will be a valuable addition to our leadership team.”