BNY Mellon has appointed Stephen Lackey as chairman of its Asia Pacific region. Lackey succeeds Christopher Sturdy, who has been Asia Pacific chairman since early 2008 and is moving to New York to take on a senior role in the firm’s Global Client Management Group.
Lackey joined BNY Mellon in 1981 and has been director of global corporate development and investor relations since 2009. His experience includes acting as representative of BNY Mellon’s Sydney office from 1983-1987, leading a multi-national client group in London from 1991-1995, a communications and technology client group from 1995-1999, and a specialised industry client group until 2002. During his 30-year tenure at BNY Mellon, Lackey has travelled extensively across Asia Pacific and has led the merger and acquisition strategy both in the region and globally.
Based in Hong Kong, Lackey will lead the development and implementation of the company’s business strategy for the Asia Pacific region and will chair its Asia Pacific Executive Committee. Additionally he will join BNY Mellon’s Executive Committee. Working closely with BNY Mellon’s global business heads, he will serve as the company’s primary representative with the local regulatory authorities and oversee client management for the region. He will report to James Palermo, vice chairman of BNY Mellon and chief executive officer of Global Client Management.
Daniel Smith, currently chief administrative officer of Asia Pacific, has been promoted to chief operating officer for the region, incorporating his responsibilities as chief administrative officer. He will continue to be based in Hong Kong and report to the Asia Pacific chairman.
“We have excellent growth opportunities across Asia Pacific,” said Robert Kelly, chairman and chief executive officer of BNY Mellon. “We will continue to enhance our strategic partnerships and alliances to enable our clients to benefit from our investment management and servicing expertise. As Asian institutions continue to diversify their portfolios through increased investment outside their borders, we will partner with them and ensure we deliver the full breadth of our company’s capabilities to support their growth.”
“I want to recognise Chris Sturdy’s stellar contributions over the last three years – efforts that have placed our business in a position of strength as we look to the region as a key engine of growth for our company.”
Sturdy joined BNY Mellon in 1982 and spent more than a decade in key roles in London. For over eight years, he developed valuable new business for the company in Asia Pacific, cultivating extensive client relationships there and gaining valuable experience and insight within countries from Japan to China, India and Australia in his role as head of global Depositary Receipts.
In his new role Sturdy will assume the position of senior executive in the Strategic Client Group reporting to James Palermo. His appointment is an important addition to the company’s new client coverage model serving BNY Mellon’s largest global clients. Sturdy will join a new team of senior executives in leading this effort.
As Lackey transitions to his new role in Asia, the Investor Relations function will report to Ismail (Izzy) Dawood and the corporate development function will report to David McCormish. Both will continue to be based in Pittsburgh in the United States and report to Todd Gibbons, vice chairman and chief financial officer of BNY Mellon.