Bank of Asia Appoints Senior Bank Executive Lisa Lou as President

First female Asian bank executive to lead BVI's only bank serving global customers using a digital platform

Appointment to accelerate Asian client acquisition and fintech banking development as the global banking industry embraces digitalisation

ROAD TOWN,British Virgin Islands,Aug. 10,2020 -- Bank of Asia (BVI) Limited (the "Bank"),the only licensed bank in the British Virgin Islands ("BVI") serving global offshore companies and individualsusing its digital platform,today announced the appointment of Lisa Lou as President effective 1 August 2020.

Lisa will be based in the BVI,oversee the Bank's global operations and lead the development and delivery of banking services to offshore companies,trusts,family offices and ultra-high-net-worth individuals from around the world. She will work closely with Carson Wen,the Bank's Founder and Chairman,the Board and teams across regions to build out the Bank's innovative corporate and investment banking,digital asset servicing,fintech-powered investment and asset management services. Given the travel restrictions and the need to develop the market for the Bank in the Asian market,Lisa will work remotely until the requisite permits are obtained and the travel restrictions to the BVI are removed.

Commenting,Carson Wen,Founder and Chairman of Bank of Asia,said: "On behalf of the Board,I am delighted to welcome someone of Lisa's calibre to lead our fast-growing global bank. Since our official launch in July 2018,we have invested in cutting-edge fintech tools and services that are enabling our customers to significantly reduce costs and navigate on-boarding and transactions processes with ease."

"Technology is revolutionising the global banking and finance industry and Bank of Asia is well positioned to develop itself into a new generation fintech bank and seize the growth opportunities that exist. We are seeing frequent transactions undertaken by the growing number of customers using our recently launched payment channel "BOA Pay",and we are looking forward to a period of robust growth for Bank of Asia under Lisa's leadership with the full support of the Board and the team. I am confident that Lisa's vision and proven leadership,extensive blue-chip banking experience and intimate understanding of our target customers,will prove invaluable as we enter the next phase of our growth," Carson Wen added.

Lorna Smith,OBE,Vice Chairman Bank of Asia,said: "Bank of Asia has been an exemplar of strong environmental,social and governance policies and practices. It emphasises on giving back to the BVI community,such as donating to youth education programmes and most recently,providing thousands of protective medical supplies to fight COVID-19. The appointment of a very widely experienced Asian executive to lead a major bank in the BVI enhances what is already a strong multi-cultural team and underscores the Bank's unwavering commitment to building a stronger global community."

Lisa Lou,President,commented: "Bank of Asia's unique positioning as a fintech enabled bank,its distinguished Chairman,its forward-looking board,and its innovative and fintech-driven culture,were the overriding factors for me to join the bank."

Continuing,she said: "As the world wrestles with a pandemic that is wreaking havoc on markets and economies,new impetus is being placed on innovation in the financial ecosystem. Bank of Asia's focus on delivering advanced digital banking and global asset management solutions anytime,anywhere,leaves it well-positioned to capture new customers in an increasingly cashless world."

Prior to joining Bank of Asia,Lisa was the Senior Managing Director,China country manager and Beijing Branch Manager at State Street Bank. Before that,she spent six years at JP Morgan Chase Bank China as Managing Director,Country head of Financial Institutions and Public Sector Clients,and General Manager of Beijing. During her 20-year career,she has also held senior roles at Standard Chartered Bank China and HSBC Australia.

About Bank of Asia

Bank of Asia provides banking and asset management services to companies,high net worth individuals,family offices and trusts across the globe,especially those with interests in offshore jurisdictions,through its digital platform.

The Bank's vision is to change the way people bank through delivering cost effective,efficient and user-friendly FinTech solutions,underpinned by innovative technologies and robust multi-layered in the Know Your Customer and Anti Money Laundering process.

In addition to general banking services such as deposits and loans in multiple currencies,cross-border payments and remittance,it also provides investment banking,corporate advisory and structured financing,private banking,insurance,investment and asset management services through its business partners.

Bank of Asia is licensed and regulated by the Financial Services Commission of the British Virgin Islands (BVI FSC).

For more details,please visit www.bankasia.com.