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Banking This Week
A quick roundup of news by country every two weeks:
• Weeks of August 30th 2010
• Weeks of August 16th 2010
• Weeks of August 2nd 2010



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PRESS RELEASES
Vendor News

This is a press release by Western Union

Published March 8, 2010

Western Union appoints new Asia-Pacific head

Englewood, Colorado, and Hong Kong, March 5, 2010 – The Western Union Company, a leader in global payment services, announced that Drina C. Yue has joined the company as Senior Vice President and will head the Asia Pacific region.

Yue’s role will be to advance the company’s objectives by growing its core consumer-to-consumer money transfer business, adopting innovative delivery channels and making strides in payments to address new market opportunities across Asia Pacific. She reports to Hikmet Ersek, the company’s chief operating officer, and will be based in Hong Kong.

“Drina has notable talent and energy, and her innovative perspectives will help consolidate our leadership position and expand our business in the fast-growing Asia-Pacific region,” said Ersek. “As a native of Asia and true global citizen, Drina will bring depth and technological insight to Western Union’s global management team.”

“Western Union is a company with more than 150 years of consumer trust behind it,” Yue said. “The company’s pioneering spirit continues to this day, and I am very excited to join a team whose consistent business success is built on providing a dependable financial lifeline between consumers and their family members in an increasingly international world. I look forward to advancing Western Union’s innovative approaches aimed at continually upholding customer excellence.”

Yue brings more than 25 years of experience in the telecommunications industry, with five U.S. patents and years of go-to-market experiences that span the telecommunications and broadband
video sectors in the United States and, more recently, Asia Pacific. For the past six years, Yue has headed up the Broadband Communications, Home & Network Mobility business of Motorola in Asia Pacific.

In addition to her expertise in the telecommunications sector, Yue brings another five years of experience as the CEO of iSteelAsia, developing the company from the ground up to become the world's first listed steel vertical portal.

Yue earned her bachelor’s and master's of science degrees from the University of Illinois, Urbana and speaks fluent English, Mandarin and Cantonese.

Re-disseminated by The Asian Banker

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Quick Poll
China is pushing the use of the renminbi for trade settlement, even as companies are selling yuan bonds or setting up yuan funds. What do you think are the main issues in the internationalisation of China’s currency?

It is going to jump-start much-needed improvements in local financial services and infrastructure
The world is hungry for an alternative to the dollar
An internationalised renminbi will give too much power to the Chinese government
It’s senseless to consider before full convertibility


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