Shalini Nagarajan

Swiss crypto-focused bank SEBA has hired a former JPMorgan banker to head its Asia Pacific division.



Amy Yu previously worked within JPMorgan’s prime brokerage services division for six years. She earlier held roles in other traditional financial institutions, UBS and Nomura.&nbsp;



Yu ventured into the world of crypto in 2018, joining crypto exchange BitMEX to develop services for institutional clients. Then she became head of sales for the Asia Pacific region at Genesis, which <a href="https://blockworks.co/news/genesis-in-chapter-11-wont-insulate-silbert-winklevoss-says">filed for bankruptcy</a> in January.



Her appointment to SEBA signifies the company’s intent to expand across Asia Pacific, and she will initially be based in Singapore, according to a <a href="https://www.seba.swiss/media-and-investors/SEBA-bank-appoints-amy-yu-as-apac-ceo" target="_blank" rel="noreferrer noopener">press release</a>. In November, Hong Kong became SEBA’s first strategic location to drive growth in the region, with a new office set up there. 



Yu joins the bank as someone with deep domain expertise in both crypto and traditional banking in the region, SEBA said.



“Following the recent opening of our office in Hong Kong, Yu has the successful track record and expertise to capitalize on this momentum and lead our business through the next pivotal phase of development in the region,” Franz Bergmueller, SEBA Bank’s CEO, said in a statement.



Backed by Swiss wealth management group Julius Baer and founded in April 2018, SEBA operates a universal suite of regulated banking services in the digital economy. Ahead of the Merge last year, the bank implemented <a href="https://blockworks.co/news/seba-bank-enables-ether-staking-as-merge-nears">ether staking services</a> for large clients.



Yu acknowledged the crypto industry’s troubles of last year in an <a href="https://www.bloomberg.com/news/articles/2023-02-07/crypto-bank-seba-hires-ex-jpmorgan-banker-as-asia-pacific-ceo" target="_blank" rel="noreferrer noopener">interview</a> with Bloomberg, saying there are lessons to be learned from the recent crisis.



The bank currently has just three staff members in Singapore, and future hiring will depend on how licensing goes, she added.



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