John Laurens, currently HSBC’s Asia Pacific head of global payments and cash management, will join DBS on November 10, to take up the role of head of global transaction services (GTS).
Laurens will be taking over the reins from Tom McCabe, who after 18 years in Asia, will be relocating back to the US to head up the DBS franchise there.
Before HSBC, Laurens spent more than 13 years at Citi in various roles, including as regional head of global cash & trade product management, and regional sales head of global transaction services.
According to a statement released by the bank, McCabe will be head of the bank’s US franchise, effective from October 1. McCabe’s role will help strengthen the bank’s connectivity with US multinationals, for both transaction banking as well as treasury & markets, to Asia. At the same time, he will build up DBS’ institutional investor business and play an oversight role for the bank’s US-based brokerage and investor relation activities.
DBS CEO Piyush Gupta comments on the moves: “While DBS is focused on Asia, leveraging our network offices in Los Angeles and London to connect Western MNCs and institutional investors to Asia is also part of our strategy. As a leading Asian bank, DBS has had good success in intermediating the growing capital and trade flows between Asia and the rest of the world, and we will continue to build on this.”