Bank of America has announced the appointment of Winnie Chen as the new head of Asia Pacific Global Payments Solutions (GPS), effective September. Chen will be based in Singapore and will also join the Asia Pacific Executive Committee.
In her new role, Chen will drive the Global Payments strategy and execution for the region, aiming to deepen client relationships and ensure close collaboration with partners in Global Corporate and Investment Banking. Her extensive experience and leadership will be pivotal in advancing Bank of America’s GPS business in the Asia Pacific.
Chen rejoins Bank of America after previously serving as head of Sales for Financial Institutions and the Public Sector for Hong Kong and Macau. Most recently, she held the position of head of Treasury Services for Asia Pacific and Singapore Chief Executive at Bank of New York Mellon.
With over 20 years of experience in financial services across the United States, Greater China, and Singapore, Chen brings a wealth of international perspective and deep expertise in credit administration, sales, relationship management, and transaction banking.
Chen will oversee Bank of America’s GPS business across 12 Asia Pacific markets and an additional seven markets through strategic alliances. The Asia Pacific region is crucial to Bank of America’s $11 billion+ global GPS business, given its significant importance to clients. Bank of America maintains relationships with 62% of the Global Fortune 500.
Chen’s appointment comes at an opportune time for both the region and the industry. The Asia Pacific team has been developing innovative solutions, such as CashPro Forecasting, to help clients navigate new regulatory requirements and simplify cross-border payments, exemplified by a solution that connects clients to the China Customs platform.
Bank of America recognizes that the role of the treasurer has evolved, making it essential for providers to offer comprehensive consulting on managing interest rate volatility and protecting FX exposure during large volumes of routine cross-border payments. The appointment of Chen underscores the importance of a strategic approach to payments, beyond merely adopting new innovations.
