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).
Royal Bank of Scotland wins cash mandate with IATA; Standard Chartered and Agricultural Bank of China start clearing in UK time; and China Citic Bank all set for e-Docs.
A survey of China’s top companies reported a marked dissatisfaction with trade finance and liquidity management services, products they also ranked as among the most important, according to East & Partners.
Asia hosts some of the most sophisticated cash management systems; but does a multi-currency pool make sense for your company? CT looks into the pros and cons.