Bahrain-headquartered Bank ABC has named Jim Murphy as its new European head of global transaction banking.

Murphy replaces Damian Austin in the role, who joined British Arab Commercial Bank in September last year.

Murphy joined Bank ABC five years ago and has managed the divisions of global trade debt and distribution and European financial institutions and non-bank financial institutions coverage for more than two years.

The role, based in London, will see Murphy report to Charlotte Wiltshire, European head of wholesale banking, and functionally report to Karim Labadi, Bank ABC’s group head of transaction banking.

Murphy has over 25 years of market experience in transaction banking and financial institutions and previously held senior roles at HSBC, Deutsche Bank and Barclays, where his roles included director of financial institutions trade.

Wiltshire says: “Jim brings a wealth of experience and market knowledge to this core product area of the bank during a critical time of our strategic growth aspirations and digital global transaction banking product implementation.”

The lender is looking to further scale its transaction banking business under Murphy’s leadership, Wiltshire adds.