(15 November 2016 – Asia) HSBC has named its new head of global trade and receivables finance for Asia Pacific.
The role will be assumed by Ajay Sharma, who will replace Siew Meng Tan effective from the beginning of 2017. Tan was recently appointed regional head of private banking for the region after being appointed to the trade position in July 2015.
Sharma is currently global co-head of international subsidiary banking (ISB) in Hong Kong at Citi. He will report to Stuart Tait, regional head of commercial banking, Asia Pacific, and Natalie Blyth, global head of global trade and receivables finance.
Speaking of the appointment, Tait said: “Ajay’s strong leadership of ISB in Asia Pacific has driven collaboration across business lines and significantly strengthened our client proposition in the region.”
Blyth added that he will “bring a new impetus to our GTRF franchise in Asia Pacific”.
Sharma was previously head of Asia Pacific corporate finance for the global subsidiaries business at rival Citi. Prior to that he headed the bank’s corporate business in Singapore for two years, after holding a number of roles in the transactional banking and loan syndications space in Singapore, London and Mumbai.
Last year, HSBC recruited Citi’s head of trade for Asia, Sanjay Tandon, appointing him to regional head of product and propositions for trade finance.