HSBC Commercial Banking, a subsidiary of HSBC Global, has announced a new senior addition to its Asia-Pacific (APAC) team. Ajay Sharma will take on the role of Regional Head of Global Trade and Receivables Finance (GTRF), beginning on January 1, 2017, according to the statement.
Mr. Sharma is presently the acting Global Co-Head of International Subsidiary Banking (ISB), based in Hong Kong and responsible for the APAC region. The promotion also signals yet another move in the region for the lender at the same time as operations and talent are being shifted out of the UK.
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Mr. Sharma will be succeeding Siew Meng Tan, who was also elevated to the role of Regional Head of Private Banking, APAC. Mr. Sharma joined HSBC in 2014, having worked at Citi in a variety of capacities since 1989. During this period he held roles such as Managing Director of APAC Corporate Finance and Global Subsidiaries, Corporate Bank Head in Singapore, and many others, according to information made public on his Linkedin profile.
According to Stuart Tait, Regional Head of Commercial Banking, APAC, in a recent statement on the appointment: “Ajay’s strong leadership of ISB in Asia-Pacific has driven collaboration across business lines and significantly strengthened our client proposition in the region.”
“Ajay joined HSBC from Citi in 2014 and he has built a strong ISB proposition in Asia that has delivered strong business growth for HSBC Commercial Banking. He will bring a new impetus to our GTRF franchise in the Asia-Pacific,” explained Natalie Blyth, Global Head of Global Trade and Receivables Finance, in an accompanying statement.