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StanChart makes three executive changes in Europe, Asia transaction banking business
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(Reuters) – Asia-focussed lender Standard Chartered (StanChart) announced three senior executive changes in its transaction banking
(Reuters) – Asia-focussed lender Standard Chartered (StanChart) announced three senior executive changes in its transaction banking business on Tuesday.
Ankur Kanwar will lead StanChart’s transaction banking operations in Singapore and The Association of Southeast Asian Nations (ASEAN).
Kanwar will also continue in his existing roles as the global head of cash structured solutions development and the head of cash management for Singapore and ASEAN.
He takes over from Maisie Chong, who will continue as the global head of receivables purchase and head of trade and working capital for ASEAN and South Asia, the bank said.
StanChart said Marion Reuter will lead its transaction banking business in Europe and at the Frankfurt-based Standard Chartered Bank AG.
Reuter succeeds Karin Flinspach, who has decided to leave the bank. Reuter will continue in her role as the head of transaction banking corporate sales in Europe and will be based in Frankfurt.
Sofia Hammoucha, who joined the bank in 2022, has been appointed as the global head of trade and working capital as part of the transaction business management team, StanChart said.
She will be based in Singapore and replace Kai Fehr, who joined StanChart in 2020 and will now move back to Germany “to spend more time with his family”, StanChart said.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Sumana Nandy)
Transaction banking refers to the services provided by banks to facilitate the financial transactions of businesses, including cash management, trade finance, and payment processing.
Cash management involves the collection, handling, and usage of cash, ensuring that a business has sufficient liquidity to meet its obligations while optimizing its cash flow.
Trade finance is a financial product that helps companies facilitate international trade by providing financing and risk mitigation for importers and exporters.
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