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.
Carlisle Companies won SAFE approval for a China domestic US dollar cash pool in the Shanghai FTZ, but holds off on cross-border implementation over FATCA concerns.
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).
Bunge International Trading, the Chinese arm of a US-headquartered agribusiness company, has completed an RMB cross-border intercompany loan from the Shanghai FTZ.
How international logistics provider Dachser's in-house cash-netting strategy helped it lower exchange rate exposure by 80% and save monthly bank fees of €10,000 ($13,503).