Singapore’s DBS has hired Vijay Vashist to a newly-created role of group product head of open account trade in the bank’s global transaction services division.

In the new position, Vashist will head up product development and market expansion.

Vashist joins from Standard Chartered, where he was the global head of open account trade finance.

He brings more than 20 years’ experience in the factoring, supply chain and traditional trade business.

We are thrilled to have Vashist join our organisation.”

“We are thrilled to have Vashist join our organisation and bring his wealth of experience, customer insights and leadership skills to DBS,” says Lum Yin Fong, Vashist’s new boss and group head of product management of GTS at the bank.

“He is a valuable addition to our team and I am confident that he will help accelerate the development of new products and revenue streams across our Asia franchise.”