Working capital financier Finacity has hired Daisy Tay as director of origination for Asia Pacific, a new role for the firm.

Tay joins from Wells Fargo, where she had been for the last six years as senior vice-president, head of operations, international operations. Her previous experience includes two years at Westpac as director of Asia trade sales and nearly 20 years at Bank of America, where she served in a number of roles, including regional head and senior product manager of global trade and supply chain solutions.

At Finacity she reports to Adrian Katz, president of the company, and remains based in Singapore.

“My focus will be to bring innovative working capital solutions to companies in Asia Pacific,” Tay tells GTR. “Finacity has proven strengths in the region, having facilitated impressive securitisations such as a US$550mn financing for Neptune Orient Lines. I am very excited about the opportunities and challenges ahead.”

Finacity is a member of the Greensill family of companies, having been acquired for an undisclosed amount in June last year in a move that added receivables securitisation capabilities to Greensill’s offering. As per the terms of the deal, Finacity became a wholly-owned subsidiary of Greensill, but continues to deliver its services as a distinct operating company, led by Katz.