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.
StandChart and Ford remit RMB dividends; WPG Holdings and Pentair implement two-way renminbi sweeping in the SFTZ with Stanchart and Citi; Shell awards global RMB mandate to StanChart.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.
Pentair's senior treasury director Terri Scherber takes CT through its new automatic renminbi sweeping and how it is integrating China into global treasury.
CT's Working Capital Chronicle has been updated. New deals include: Citi's automatic renminbi cash sweeping programme with Pentair; As well as Huawei and Honeywell's cash management solutions with Standard Chartered ...
A newly established renminbi sweeping solution in the Shanghai FTZ enables Pentair treasurers to incorporate the Chinese currency into its global liquidity pool.
A recent cash management deal between Standard Chartered Bank and Huawei to launch a multi-currency notional pool exemplifies Hong Kong’s viability for China treasury centres.