Standard Chartered has hired Khuresh Faizullabhoy as chief operating officer for trade.

Based in Singapore, he reports to Nelius De Groot, the bank’s chief operating officer for transaction banking, as well as to Kai Fehr, global head of trade and working capital – who joined the bank from Wells Fargo at the beginning of this year.

He replaces Shalini Lall, who has held the role since 2015. She remains with the bank, but her new position is yet to be announced.

Faizullabhoy has over 25 years of experience in banking and fintech organisations. Most recently, he was chief commercial officer at Serai, the HSBC-backed online B2B platform for SME trade. He joined the start-up as its chief product officer in 2019 when it was set up as a standalone entity, along with fellow senior HSBC executives Vivek Ramachandran, the project’s CEO, and Andrew Dennison, its COO. Prior to that, he held numerous roles at HSBC, including a five-year stint as global head of global trade and receivables finance services in Hong Kong.

In a statement, Standard Chartered says that his new role will see him work with the trade management team to “transform and elevate the business service delivery, focusing on the development of its target operating model”.

Welcoming Faizullabhoy to the role, Fehr says: “This is an exciting time for Khuresh to be joining Standard Chartered’s trade team, as we build a new industry-leading end-to-end service experience for our clients. Khuresh is an industry veteran, who brings his extensive experience of leading and transforming operations and service delivery to the role, in addition to his valuable ways of working and perspectives from his recent time spent in a startup, fintech environment.“