Based in Hong Kong, Ms. Yip will take responsibility for the overall performance of MasterCard across the two markets.

Ms. Yip brings years of experience in the financial services industry in Hong Kong, Greater China and Southeast Asia. She will be responsible for developing strategy for the local market and forging close business alliances with customer financial institutions, while developing and promoting MasterCard products and services in line with market demands.

"We are delighted that Anna has taken on this important role," said Ling Hai, division president, Greater China, MasterCard. "With her extensive experience, proven track record and in-depth knowledge of the industry, we are confident that she will be able to grow our business. Her appointment also reinforces our long term commitment to these two markets."

A Hong Kong native, Ms. Yip joined MasterCard in 2013 as head of Greater China, MasterCard Advisors, the professional services arm of MasterCard which provides proprietary analysis and solutions. Based in Hong Kong, she was responsible for the operation and growth of the business in the Greater China region.

Prior to joining MasterCard, Ms. Yip was the managing director for Corporate Planning and International Strategy at United Overseas Bank in Singapore. Previously, she was a partner with McKinsey & Company in Greater China where she founded and led the Asia Retail and Wholesale Payments practice and co-led the Asia Financial Institutional Group. Over her 12-year tenure with McKinsey she advised banks, non-bank financial institutions and funds on strategy, mergers & acquisitions and organizational issues.