Spanish bank BBVA has appointed Nick Shaw as global head of transactional trade finance. The move forms part of the wider reorganisation of the bank’s trade finance business lines.

In his new role, Shaw will be responsible for a range of trade finance products, including letters of credit, forfaiting, silent guarantees, and short-term import and export finance. He will remain based in Madrid.

Shaw was previously global head of structured trade finance (STF) at BBVA. The bank has told GTR that structured trade will now be absorbed into a newly-created global lending unit, to be headed up by Javier Rodriguez-Arias.