HSBC has made a number of personnel changes in its global trade and receivables finance (GTRF) business, including the appointment of a COO and changes to its Asia and America leadership teams.
Jonathan Moore (pictured) has been named COO, with responsibility for all transaction fulfilment and transformation activities across the GTRF function. Moore, who is leaving his position as global head of client and transaction services in GTRF, has worked at HSBC for nearly two decades and has held a variety of positions.
Vivek Ramachandran, who took over the GTRF business in May 2022, reports to him.
Moore joins Vinay Mendonca, who was named chief growth officer in October of last year, and Bhrigu Singh, who was appointed chief product officer, in the GTRF C-suite.
In addition, HSBC is making changes to its regional trade leadership, with the creation of co-heads of Asia Pacific, which Ramachandran says in a memo "reflects the scale of our business in the region, and our desire to enable a deeper focus on Asia as a strategically important region for our bank".
Aditya Gahlaut has been named the organization's first Asia Pacific co-head. He will also continue to serve as GTRF's Hong Kong and Macau regional director.
According to HSBC, the second co-head position will be advertised soon. Ajay Sharma, who has led the Asia GTRF business since 2016, will serve as interim CEO until a permanent replacement is found, and his next position will be announced "in due course," according to the bank.
Meanwhile, Marissa Adams, who was named GTRF North America's head in January of last year, has been promoted to head of the GTRF Americas business, which includes Latin America, the United States, and Canada. Diego Spannaus, the new head of GTRF Latin America, will now report to Adams.
Following Sunil Veetil's move to the newly created role of regional head of sustainability for commercial banking, Asia Pacific, in June 2022, the bank is still recruiting for the position of head of GTRF for the Middle East, North Africa, and Turkey. For the time being, Elie El Asmar continues to serve in the role on an interim basis, in addition to his duties as Qatar's head of commercial banking.
