HSBC Named New Global Trade And Receivables Finance Head
As per the latest news, HSBC has named Vivek Ramachandran as Head of Global Trade and Receivables Finance (GTRF), effective immediately.
The aforesaid appointment is a re-visit to HSBC for Vivek as he first came into the company in 2015 as Global Head of Product and Propositions for GTRF, and after that, he was appointed as Global Head of Growth & Innovation for HSBC Commercial Banking. Earlier, he was involved in operating the Global Transaction Banking business at Barclays and handled senior management roles at Lloyds. Since 2019, Vivek has been working as the CEO of Serai, the HSBC-established venture situated in Hong Kong, that works as a separate organization conveying a B2B supply chain platform.
HSBC’s Global Trade and Receivables Finance is the leading & renowned supplier of international trade and supply chain finance solutions, with an unparalleled organization covering more than 90% of the global trade and capital flows. Talking about its first-quarter income last week, HSBC detailed solid GTRF execution, driven by a 22% expansion in incomes in Commercial Banking compared to Commercial Banking compared with 1Q21. This execution has been highlighted by record-high customer loyalty scores, and the bank is getting the top position in the Euromoney Trade Finance Survey- in the light of client votes - for the 5th consecutive year.
As per Barry O’Byrne, CEO of Global Commercial Banking at HSBC, “We are pleased to have Vivek rejoin HSBC - to accelerate our sustainable trade finance goal, extend our product recommendations, and further improve our positions as the world’s leading trade bank. ”
Vivek will initially be based in Hong Kong and will report to Barry O’Byrne and Greg Guyett, Co-CEO of HSBC Global Banking and Markets. He replaced Ajay Sharma and Vinay Mendonca, who expected joint interim leadership of GTRF in June 2021 along with their particular roles in GTRF as regional head of Asia-Pacific, and Global Head of Product, Propositions, and Structuring.