HSBC has appointed Ricardo Elias as regional head of receivables finance Asia-Pacific, effective 10 August 2012. He’ll join Bhriguraj Singh who started at the bank as its new head of product management for global trade and receivables finance (GTRF) for Asia-Pacific on June 10.

HSBC said Elias will manage business development, commercial expansion, operational and risk management activities for the bank’s receivables finance business across Asia. Elias will be based in Hong Kong and reports directly to Simon Constantinides, regional head of GTRF Asia-Pacific.

Constantinides said in a press statement, the bank plans to double trade finance revenues to $5 billion “in the foreseeable future”, although he did not elaborate on exactly how it planned to do this.

Elias has been with HSBC since 2009 as head of receivables finance for Mexico. Before joining HSBC, he held various positions in global banking and sales management with companies such as General Electric, as well as the Mexican bank Banamex, and Citibank.