DBS appoints new head of sales - global transaction services
(19 September 2017 – Singapore) DBS Bank has named Mark Troutman as its new group head of sales for its global transaction services (GTS) unit.
He was previously the global head of corporate sales for HSBC's payments and cash management product group. In this role, he led the strategy and development of corporate sales across HSBC's commercial banking, global banking and markets businesses.
In a statement, DBS said Troutman has more than 25 years of experience in cash management and trade finance, managing relationships with multinational companies, SMEs, public sector companies and financial institutions. He has also held senior positions with JP Morgan and Bank of America, across international markets such as US, Hong Kong, Singapore and Australia.
"Global transaction services is a strategic priority for the bank given its essential role in deepening our institutional banking group customer relationships and as a driver of revenue growth for the group," said John Laurens, DBS Bank's head of global transaction services.
The GTS business constitutes 31 percent of the bank's institutional banking business income. For the first half of 2017, GTS income grew 14 percent year on year.
According to East & Partners Asia’s Institutional Transaction Banking Markets Program, DBS ranks fourth as primary provider among the region’s top 1000 enterprises by revenue (excl. Japan). The top 4 providers, comprised of DBS, Citi, HSBC and Standard Chartered account for 61.6% of all primary transaction banking relationships, however that figure has grown by just one percent in the last 10 years.
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