Banking News

CBA announces executive changes within trade finance team

CBA announces executive changes within trade finance team

(9 February 2018 - Australia) Commonwealth Bank of Australia (CBA) has named an acting global head of trade finance sales following the departure of Geoff Cox.

Richard Benjamin has assumed the role as Cox left the bank to pursue personal interests. In his most recent role, Benjamin was CBA's chief operating officer (COO) for global trade finance. He rejoined the bank in 2015, following a three stint as as senior strategy manager at the bank between 2009 and 2012.

Benjamin has previously held a position with Westpac, in addition to tenures with consulting firms Cap Gemini and Accenture, gaming company Funtomic and eyewear importer Sight Station.

According to East & Partners' Australian Trade Finance Markets Program, the bank is the fastest growing trade finance provider among Australia's Top 500 enterprises by revenue (A$725 million-plus annual turnover). CBA has achieved around seven percent year-on-year growth to push towards nine percent market share in the Institutional segment.

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