HSBC’s strategic push to Asia promises explicit investment in transaction banking platforms and lending rates set to undercut existing lenders*, but the shift will be far less substantial than presumed.
HSBC has promoted Kee Joo Wong tohead of payments and cash management for Asia-Pacific. He replaces John Laurens, who took up the top transaction role at DBS.
Valspar has added renminbi to its global cash pool currencies through a dividend payment to its US headquarters and has future plans for the Shanghai free trade zone (FTZ).
The British bank, HSBC, has hired Quang Buu Huynh from Vietnam to Hong Kong to run global trade and receivables business in an effort to drive trade revenue in the bank’s key markets.
HSBC has hired Bhriguraj Singh as its head of product management for global trade and receivables finance Asia Pacific, a new role for the British-headquartered bank.