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.
Tan Siew Meng has been appointed as HSBC’s new regional head of global trade and receivables finance. She was previously the CEO of its Thailand operations.
In the latest churn in leadership at RBS’ global transaction services (GTS), Carole Berndt, global head of RBS GTS, will leave the bank to be managing director for ANZ global transaction banking.
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.
Société Générale has appointed Gareth Williams as head of shipping and asset-based finance for Asia-Pacific in Hong Kong, a role that was supported from London for the past two years.
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).