Standard Chartered has named Kai Fehr as its new global head of trade, effective January 7, 2021.

He replaces Michael Spiegel, who is taking over from Lisa Robins as the bank’s global head of transaction banking in the wake of her decision to retire.

Fehr joins Standard Chartered from Wells Fargo, where he was global head of international trade services. Before joining Wells Fargo in 2014 – initially as head of international trade services sales in Asia – he led trade finance and working capital teams in Asia Pacific for Barclays, UniCredit, and DZ Bank.

Based in Singapore, Fehr will report to Spiegel, who joined from Deutsche Bank earlier this year following the departure of Farooq Siddiqui.

Spiegel’s new appointment is effective January 1, subject to regulatory approval.

“We’re delighted that Kai, with his extensive experience, is joining us to lead our vital trade team,” says Simon Cooper, CEO of corporate, commercial and institutional banking at Standard Chartered, adding: “Michael will take the baton from Lisa at a time when we’re transforming our business on behalf of our corporate and financial institution clients and to continue playing a leading role in enabling sustainable trade flows around the world.”

Wells Fargo is yet to announce Fehr’s replacement.