FCMB Bank (UK) has promoted Martin Betts to head of trade finance following the retirement of industry veteran Terry Rust. 

Betts joined the lender in 2017, and spent six years as a senior member of its trade finance team, focusing on developing trade finance and loan services in non-Nigerian markets. 

This included expanding coverage across 15 countries in Africa, as well as non-African markets such as Turkey and Bangladesh. 

Previous roles include a spell as senior manager for forfaiting business development at Falcon Group, and nearly eight years as a director at DF Deutsche Forfait AG. He has also held management positions at Aon and SMBC. 

Betts reports to FCMB Bank (UK) chief executive Colin Fraser and is tasked with continuing existing project work. The bank says this will include building out capital-light capability across its trade business, increasing capital efficiency.