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.
Michael Vrontamitis has been promoted to head of trade, product management, splitting a cash and trade role in two and relocating the position to Hong Kong.