The service improvements, centered in Euroclear Bank’s Hong Kong office, will also benefit clients around the world that settle and hold Asia-Pacific securities at Euroclear Bank.
Euroclear Bank has reported that it will enrich both its service quality in the region and operational excellence in Asian securities transactions by employing more than 25 new operations professionals in Hong Kong, to work with Asia-Pacific clients in their own time zones and languages. Several senior-level operations and legal experts will also be transferred from the company’s Brussels-based headquarters to Hong Kong.
In order to achieve these upgrades, regulatory approvals are underway to obtain a banking license from the Hong Kong Monetary Authority to convert the Euroclear Bank representative office in Hong Kong to a branch office of Euroclear Bank. Pending receipt of this approval, it is expected that these new arrangements will be launched in April 2008.
The Euroclear Bank representative office in Beijing is expected to open in April 2008, pending completion of all regulatory matters, with four full-time employees and headed by Tracy Chen, who joined Euroclear Bank in Hong Kong more than a year ago from Royal Bank of Canada in Beijing. The office will support Euroclear Bank clients in China.
Philippe Dirckx, director and head of the Asia-Pacific region at Euroclear Bank, stated: The opening of a representative office in Beijing and the For further information, improvements we are making in Hong Kong will make having a Euroclear Bank relationship an exceptional client experience, both locally and globally. No other international infrastructure service provider will have as extensive a service portfolio to cater to local client needs in the region.
