Lawrence Webb has been promoted to the newly-created role of global head of trade services and supply chain at HSBC in Hong Kong, as part of a renewed push into trade and project finance by the UK bank.
While HSBC’s investment banking arm continues to struggle globally, and its US division remains clogged by losses and senior departures, the bank has moved to underline its commitment to Asia by basing a global head out of Hong Kong.
The move also symbolises the increasing number of finance heads that are moving to Asia as trade with the rest of the world, notably via India and China, continues to balloon.
Webb will assume the role of regional head of Asia-Pacific trade services, reporting to Margaret Leung, general manager and global co-head of commercial banking at HSBC.
He will also report directly to Andrew Long, HSBC’s London-based global head of global transaction banking. The bank’s supply chain business was previously run by Alan Beattie in London. Beattie will now take on the position of chief operating office of the bank’s operations in Argentina.
Elsewhere at HSBC, Alastair Currie, based out of the bank’s Hong Kong office, is being transferred to a senior role in its Taiwan office.