Nigeria’s Access Bank has hired Lloyd Caughey as head of trade finance at its South African unit as it seeks to broaden its presence in southern Africa.
“Trade finance is a core part of the Access Bank Group focus,” Caughey tells GTR. “In line with the strategy, my focus is to start up and build a trade finance business for Access Bank in South Africa.”
In the new role Caughey will report to the bank’s Johannesburg-based head of corporate banking, a position that is currently vacant.
He joins the lender from Nedbank, where he spent five and a half years as national head of sales in its global business unit.
He has also held trade and corporate banking roles at institutions including RBS, the United Arab Bank, Westpac and Tradeflow.
Access Bank moved into the South African market last year through its acquisition of Grobank – formerly Bank of Athens – and rebranded as Access Bank South Africa in June.
The bank said the move was part of its strategy to become a gateway bank for the entire continent. “Our corporate customers will now have increased access to trade finance, treasury, international payments and loans through the wider distribution network offered by Access Bank’s presence in the key trade corridors that connect Africa to the rest of the world,” the outgoing head of Grobank Bennie van Rooy said at the time.