Deutsche Bank has made two senior appointments to its Asia Pacific trade finance team.
Frank Wu has been named Asia Pacific head of structured commodity trade finance (SCTF) and Evert-Jan Zondag is now Asia Pacific head of structured trade and export finance (STEF).
The hires follow Paul Gardner’s departure from the bank. Gardner joined the bank from RBS in 2010 as managing director, regional head of structured trade and export finance, Asia Pacific.
In Singapore, Wu will report regionally to Kaushik Shaparia, Asia Pacific head of trade finance and cash management for corporates, and globally to John MacNamara, global head of structured commodity trade finance.
His remit will be to expand the bank’s SCTF business in the region – particularly in China.
His previous role at the bank was as head of trade finance and cash management for corporates – Greater China, which he headed up out of Shanghai.
Zondag also reports to Shaparia. He previously ran the bank’s STEF business in Hong Kong, where he remains for his new role.
Kaushik Shaparia comments on the appointments: “We are delighted to see internal talent seize new opportunities within the bank. By having a dedicated leader for each of our structured trade businesses, we are realigning for future growth. Structured trade and export finance and structured commodity trade finance are highly specialised fields hinging on both scale and expertise, and I am confident that Frank and Evert-Jan will help us take these important businesses to the next level.”