HSBC has appointed Andrew Betts as its new regional head of global trade and receivables finance (GTRF) in the UK and continental Europe.
Betts takes over the role from Steve Box, who has been moved to the newly-created role of global head of receivables finance with immediate effect.
They will both sit on the bank’s GTRF executive committee and will report to London-based Stuart Tait, HSBC’s head of global trade and receivables finance.
“I am delighted to welcome Andrew to the senior GTRF team,” says Tait. “The UK and Europe is a substantial business within our global franchise and an important part of our global network. Andrew will lead the implementation of GTRF’s strategy, running the business end-to-end to serve HSBC’s client base across all segments, leveraging our unrivalled network in support of their international ambitions.”
Betts will report regionally to Ian Stuart, head of UK commercial banking (CMB) and co-head of CMB Europe and Tim Reid, co-head of CMB Europe
Betts joins from JP Morgan, where he was most recently global head of custody in investor services. He was previously global head of supply chain finance and logistics services at JP Morgan and before that the global head of supply chain and trade finance at RBS and ABN Amro.
In his new role, Box will work with teams across the bank to further develop its receivables propositions and, given the evolving regulatory landscape, will advise on the risk framework for the product.