Mr Kearns was previously head of BNY Mellon’s DR business in Asia-Pacific and has been replaced in that role by Gregory Roath. Mr Kearns will continue to report to Michael Cole-Fontayn, CEO of BNY Mellon Depositary Receipts, and has relocated from Hong Kong to New York for the new assignment.

Mr Kearns will be responsible for global business strategy and product development. He has more than 20 years experience in the banking industry. He joined BNY Mellon in London in 1989 in the company’s international private banking division and moved to the depositary receipts division in 1991. In 2003 he moved to Hong Kong to lead sales and marketing for depositary receipts in Asia and was named business head for the region in 2008.

Mr Cole-Fontayn said: “Chris has outstanding business judgment and has achieved tremendous results in Asia where our business has a 56% market share on all DR transactions. His global acumen will play an integral role as we continue to drive innovation across the industry.”