Bank of Ireland has built up its trade finance presence in London by hiring two ex-HSBC figures, Tom Turney and Phil Smith. Turney joins as head of trade finance for the UK, while Smith, senior manager, will act as his deputy.
Turney spent many years at HSBC, most recently as director of forfaiting and risk distribution, while Smith was a manager in the same department before moving latterly into trade services.
Bank of Ireland was previously undertaking trade finance business out of Ireland, but with increased business opportunities, a London team was seen as a good step to book global trade business as well as participate in the secondary market.
The team may be joined by another member in a few months or so.