BNY Mellon has expanded its Asia-Pacific treasury services team with two appointments. Fred DiCocco was promoted to the newly created position of senior product manager for fund transfer. He joined BNY Mellon in 1998 and was most recently head of network management for treasury services and prior to that was head of treasury services sales for Southeast Asia.
DiCocco’s primary responsibility in his new role is to oversee product management related to BNY Mellon’s global payments product offering, including product strategy, new product development, technical sales support and market and industry analysis.
He reports both to Mike Bellacosa, BNY Mellon’s head of global payments and product management located in the US, and Richard Brown, Asia-Pacific head of treasury services.
“Treasury services is a core focus for BNY Mellon and we continue to expand, invest and grow on all fronts having already substantially increased our market share in Asia over the last two years,” said Brown in a statement. “We’ve made a substantial investment in our global treasury technology platform, with a growing proportion of this investment focusing purely on Asia, which underlines our commitment to the region.”
In addition, Agatha Tung-Gerke was appointed to another newly created position of senior product manager for trade finance. She joins BNY Mellon from HSBC in Hong Kong where she was most recently global product manager for trade and supply chain.
Tung-Gerke will be responsible for working with and supporting stakeholders to ensure business and revenue goals are met, including product strategy, product development to meet requirements in the region and alignment with competition. She reports directly to Michael McDonough, head of global trade and product management in the US, and to Brown in Hong Kong.
Brown highlights BNY Mellon’s trade and payments business as the area for future growth. “We have found that most Asian jurisdictions are increasingly concerned about money laundering and by being an early and conscientious adopter of the US rules, and having invested early in the technology, we have been able to protect our partners from making expensive and reputation-damaging mistakes,” he said. “These trends for quality, safety and compliance have really helped us grow our market share.”
